A company sold a building on September 1, 2017 at a total cost of $570,000 with accumulated depreciation of $265,000 through December 31 of preceding year. Straight-line depreciation was calculated based on the assumption of a 40-year life and residual value of S45,000 1. On the journal, prepare the general journal entry using four steps to update depreciation to September 1, 2017 2. Prepare the general journal entries using four steps to record the disposal of the building under each of these two independent situations: a) The building was sold for $360,000 cash. b) The building was sold for S285,000 cash