Assume Finance Consultants purchased a building for $455,000 and depreciated it on a straight-line basis over 40 years. The estimated residual value was $94,000. After using the building for 20 years, Finance realized that the building would remain useful only 14 more years. Starting with the 21st year, Finance began depreciating the building over a revised total life of 34 years and decreased the residual value to $15,500. Requirement 1. Record depreciation expense on the building for years 20 and 21. (Record debits first, then credits. Exclude explanations from any journal entries.) Start by recording depreciation expense on the building for year 20. Journal Date Accounts Debit Credit Depreciation Expense-Building 9,025 Year 20 9,025 Accumulated Depreciation-Building Now record depreciation expense on the building for year 21. Journal Credit Date Accounts Debit Depreciation Expense-Building 18,500 Year 21 18,500 Accumulated Depreciation-Building ? This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers