Chughts the coman's accident During 2011 Greta Church Junt acased to 10.00. Poid 77.000 cash and traced the end) Account Expl De Choose to any on the bed and not check 5 Check Ana More Info x Jan. 1 Apr. 1 Purchased office equipment, $110,000. Paid $77,000 cash and financed the remainder with a note payable Acquired land and communication equipment in a lump-sum purchase. Total cost was $410,000 paid in cash. An independent appraisal valued the land at $322,875 and the communication equipment at $107 625, Sold a building that cost $540,000 (accumulated depreciation of $240.000 through December 31 of the preceding year) Gretta Chung Associates received $350,000 cash from the sale of the building Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $60.000 Recorded depreciation as follows: Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value. Office equipment is depreciated using the double-declining- balance method over five years with a $2.000 residual value Sep. 1 Dec. 31 Print Done