Dec. 31. Amortization on buildings is computed by the straight-line method. The company had assigned to its older buildings, which cost

$4,200,000,

an estimated useful life of 30 years with a residual value equal to 30 percent of the asset cost. However, the owner of

Barker Freight

has come to believe that the buildings will remain useful for a total of 35 years. Residual value remains unchanged. The company has used all its buildings, except for the one purchased on September 25, for 10 years. The new building carries a 35-year useful life and a residual value equal to 30 percent of its cost. Make separate entries for amortization on the building acquired on September 25 and the other buildings purchased in earlier years.

Now we will record the amortization on the new building for the portion of the year which we owned it. (Do not round intermediary calculations. Only round your answer to the nearest dollar.)

Journal Entry
Date		Accounts	Debit	Credit
Dec.	31

Record the amortization on the other buildings acquired in earlier years. (Do not round intermediary calculations. Only round your answer to the nearest dollar.)

Journal Entry
Date		Accounts	Debit	Credit
Dec.	31