Elie Johnson Associates surveys American eating habits. The company's accounts include Land, Buldiings, Oilice 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 vinw the transactions.) Record the transections in the journat of Ellle Johnson Associates. (Record debits finst, then ciecits Seioct the explanaton on the last line- of the joumal entry table ) Jan. 1: Purchased oftice equipruent. $111,000. Pald $70,000 cash and financed the remaining with a note payable: (Record a single compound journal entry). Apr 1 Acedated land and communication equipment in a lump-sum purchase Total cost was 5340.900 paid in cash An independent apprainal valuod the land at 52677.50 and the cormunication equipment at 589.250 . (Pecord a ainglo comopound joumat entry) Jan. 1 Purchased office equipment, $111,000. Paid $70,000 cash and financed the remaining with a note payable. Apr. 1 Acquired land and communication equipment in a lump-sum purchase. Total cost was $340,000 paid in cash. An independent appraisal valued the land at $267,750 and the communication equipment at $89,250 Sep. 1 Sold a building that cost $555,000 (accumulated depreciation of $255,000 through December 31 of the preceding year). Ellie Johnson received $340,000 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 $75,00,0 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