Endblast Productions showed the following selected asset balances on December 31, 2020: Land Building Accumulated depreciation, building Equipment Accumulated depreciation, equipment $464,800 594,400 420,800 205, 200 60,000 Remaining estimated useful life is eight years with a residual value of $40,000; depreciated using the straight-line method to the nearest whole month. 2Total 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, 2021, for $649,000 cash