A university paid $33,500,000 to erect a new building. It had paid $2,000,000 to tear down an old building on the site of the new one plus $500,000 to remove the debris, the trash on the old site and to level the land in preparation of the new construction. Assume the new building has a useful life of 30 years, and an estimated residual value of $1,000,000 when it is put in service on September 1, 2019. The university uses the calendar year as its fiscal period. Required: Present the necessary journal entries for 2019 and 2020, with regards to depreciation of the buildings if the university uses: a. the straight-line method of depreciation. b. the double declining balance method c. the sum-of the-years digit method. 9)1 36000000 36,000,000- TC-33500000+20 = 36000000