Carla Vista Tool Supply Company purchased land and a building on April $1,2022,$ for $$366,000.$ The company paid $$108,000$ in cash and signed a $5\%$ note payable for the balance. At that time, it was estimated that the land was worth $$143,000$ and the building. $$223,000.$ The building was estimated to have a $25-$year useful life with a $$34,000$ residual value. The company has a December $31$ year end, prepares adjusting entries annually, and uses the straight$-$line method for buildings; depreciation is calculated to the nearest month. The following are related transactions and adjustments during the next three years.

$2022$

Dec. $31$ Recorded annual depreciation.

$31$ Paid the interest owing on the note payable.

$2023$

Feb. $17$ Paid $$215$ to have the furnace cleaned and serviced.

Dec. $31$ Recorded annual depreciation.

$31$ Paid the interest owing on the note payable.

$31$ the land and building were tested for impairment. The land had a recoverable amount of $$114,200$ and the building $$233,000$

$2024$

jan $31$ sold the land and building for $$306000$cash $$108000$ for the land and $$198000$ for the building

feb $1$ paid the note payable and interest owing