James Geary, the controller of Blossom Company has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are o 22:18 Hide Temer Useful Life in Years) Salvage Value Date Acoured Accumulated Depreciation Jan 1, 2022 Old Proposed Type of Asset Old Proposed Cost Building Jan 1, 2014 Warehouse Jan 1, 2017 $2,700,000 240.000 $515.000 45.000 40 25 50 20 $120,000 10.000 $85.000 5.100 om m ents agreed to accept James's All assets are depreciated by the straight line method. Blossom Company uses a Calendar year in preparing annual financial statements. After c proposed changes (The Proposed useful life is totallite, not remaining life) Compute the revised annual depreciation on each sein 2022 Type of Asset Building Warehouse Revised annual depreciation 5 Prepare the entry for entries to record depreciation on the building in 2022. (Credit account titles are automatically indented when the amount is entered. De not indent manually. If no entry is required select "No Entry for the account titles and enter for the amounts) Date Account Tities and Explanation Debit Credit Dec 31