Homework: Ch 9 HW Part 2 (10 pts) Save Score: 0 of 2 pts 3 of 5 (0 complete HW Score: 0%, 0 of 8 pts P9-32A (similar to) Question Help Ruthie Tarrier Associates surveys American sing habits. The company's accounts include Land, Buitings, Office Equipment and Communication Equipment with a separate AccuWed Depreciation account for each depreciables During 2018, Ruthie Tarrier Associats completed the following transactions Click the icon to view the transactions.) Record the transactions in the joumal of Ruthie Tarrier Associates (Record Obits first, then credits. Select the explanation on the last line of the journal entry table Jan. 1: Purchased office equipment, $115,000. Paid $81.000 cash and financed the remainder with a note payable. Record a single compound journal entry) Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then click Check Answer Check Answer Clear Al remaining MacBook Pro single compound journal entry.) i More Info Jan. 1 Purchased office equipment, $115,000. Paid $81,000 cash and financed the remainder with a note payable. Apr. 1 Acquired land and communication equipment in a lump-sum purchase. Total cost was $350,000 paid in cash. An independent appraisal valued the land at $275,625 and the communication equipment at $91,875. Sep. 1 Sold a building that cost $580,000 (accumulated depreciation of $280,000 through December 31 of the preceding year). Ruthie Tarrier Associates 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 $40,000. 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 $6,000 residual value. Print Done Check Answer Clear All