Atlanta Furniture Co. purchased a new storage warehouse on Jan. 1, 2022 Cost $980,00 Expected salvage value $450,000 Estimated useful life in years 15 Date building was acquired Jan 1 2022 Year 13 we sell the building for $675,000 When you reply to someone's post you need to create the journal entry for depreciation for the end of the first year that the item was purchased. You then need to create the journal entry to record the sale of that item at the end of its life