Anthony Smith, the controller of Sandhill Office Supply Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2028. Here are his findings:

Type of Asset		Date Acquired		Cost		Accumulated Depreciation, Jan. 1, 2028			Useful Life (in Years)					Salvage Value
									Old		Proposed			Old		Proposed
Building		Jan. 1, 2020		$2,810,000		$533,600			40		50			$142,000		$84,000
Warehouse		Jan. 1, 2023		284,000		54,580			25		20			11,100		8,590

All assets are depreciated by the straight-line method. Sandhill Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Anthony's proposed changes. (The "Proposed" useful life is total life, not remaining life.)

Compute the revised annual depreciation on each asset in 2028.

		Type of Asset
		Building		Warehouse
Revised annual depreciation		$enter a dollar amount		$enter a dollar amount

Prepare the entry to record depreciation on the building in 2028. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	enter an account title to record depreciation on the building on December 31	enter a debit amount	enter a credit amount
	enter an account title to record depreciation on the building on December 31	enter a debit amount	enter a credit amount