3 Solich Sandwich Shop had the following long-term asset balances as of December 31, 2021 Accumulated Depreciation Book Value Land $ 93,000 $ 93, eee Building 450.000 $(87,020) 370,980 Equipment 211, 4ee (49,600) 161,800 Patent 240.000 (96.000) 144,000 of Solich purchased all the assets at the beginning of 2019 (3 years ago). The building is depreciated over a 20-year service life using the double-declining balance method and estimating no residual value. The equipment is depreciated over a 8-year useful life using the straight-line method with an estimated residual value of $13,000. The patent is estimated to have a five-year service life with no residual value and is amortized using the straightline method. Depreciation and amortization have been recorded for 2019 and 2020 Problem 7.7A Part 1 Required: 1. For the year ended December 31, 2021, record depreciation expense for buildings and equipment. Land is not depreciated. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)