Machinery that cost $192,000 on January 20X1 was sold for $72,000 on 30 June 20X6. It was being depreciated over a 10-year life by the straight- line method, assuming its residual value would be $12,000. A building that cost $1700,000, residual value $100,000, was being depreciated over 20 years by the straightne method. At the beginning of 20x6. when the structure was 8 years old, an additional wing component was constructed at a cost of $500,000. The estimated Wife of the wing considered separately was 15 years, and its residual value was expected to be $20,000 The accounting period ends 31 December Required: 1. Give all required entries to record: a. Sale of the equipment, including depreciation to the date of sale, b. The addition to the building: cash was paid. Depreciation on the building and its addition after the latter has been in use for one year. (If no entry is required for a transaction/event, select "No Journal entry required in the first account field. Do not round Intermediate calculations.) View transaction list x > 1 Record the depreciation expenses (Equipment). 2 Record the sale of equipment. 3 Record the addition on building 4 Record the depreciation expenses (Building Wing). 5 Record the depreciation expenses (Building) Credit Note : - Journal entry has been entered Record entry Clear entry View generalfoumal 2. Complete the part of the balance sheet given below showing how the building and attached wing would be reported. Building Building, wing addition To Add: Accumulated depreciation Lossi Accumulated depreciation 2. Complete the part of the balance sheet given below showing + Building $ $ Add: Accumulated depreciation $ Less: Accumulated depreciation