(30) 33. On January 2, 2012, land with a cost of $500,000 and a building with a cost of 000 was purchased. It is estimated that the building has an estimated useful $100, life of 25 years, with no salvage value. (a) Journalize the entry to record the depreciation at December 31, 2012, assuming the straight-line method is used, and there have been no entries to record depreciation since the purchase. On December 31, 2017, prior to recording the adjusting entry for depreciation for the year, a determination is made that the total useful life of the building is estimated at 19 years, and the salvage value is estimated to be $10,000 Journalize the entry to record depreciation for the year ending December 31, 2017. (b) (c) On July 1, 2018, the land and building are sold for $750,000. Cash of $250,000, and a note for $500,000 are received. Journalize the entries to record depreciation and the sale Record entries on page 13