B. (25 pts) Sandview Co. completed the following transactions involving the purcha office building 2012 Jan. 1 Paid $120,000 cash for a new office building with an estimated twenty-you eful life and $12,000 salvage value Dec. 31 Recorded annual straight-line depreciation for the building 2013 Jan. 1 Required: Sold the office building for $115,200 cash Prepare journal entries for the transactions and events above 2 C.