Endblast Productions showed the following selected asset balances on December 31, 2023 : 1 Remaining estimated useful life is eight years with a residual value of $20,000; depreciated using the straight-line method to the nearest whole month. 2 Total estimated useful life is 10 years with a residual value of $24,000, depreciated using the double-declining-balance method to the nearest whole month. Required: Prepare the entries for each of the following. (Round intermediate calculations to the nearest whole dollar.) 1. The land and building were sold on September 27,2024 , for $614,000 cash