Ele Johnson Associates surveys American eating habits. The company's accounts include Land, Buildings, Office Equipment and Communication Equipment, with a separate Accumulated Depreciation account for each asset During 2016, Ellie Johnson completed the following transactions 1 (Click the icon to view the transactions) Record the transactions in the journal of Ele Johnson Associates (Record debits test, then credits. Select the explanation on the last line of the journal entry er Jan 1. Purchased office equipment, $110.000 Paid $72.000 cash and financed the remaining with a note payable (Record a single compound journal entry) Date Accounts and Explanation Debit Credit Office Equipment 110.000 72.000 Notes Payable 38,000 lan Cash To record Durchase of office coucment with cash and note Davable Help me solve this Demodocs example Get more help Clear all Check answer Homework: - More info catio Elle Johnson Associate with a separate Accumu (Click the icon to vie Record the transactions table) the jo Jan 1 Purchased office equipment, $110,000 Paid $72,000 cash and financed the remaining with a note payable Apr 1 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 Sep 1. Sold a bulding that cost $570,000 (accumulated depreciation of S265,000 through December 31 of the preceding year). Ellie Johnson 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 $45,000 Dec 31 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 $5,000 residual value Jan 1 Purchased office nd jou Date Jan 1 Office Eque Cash Notes P To recorded Print Done Help me solve thi