Machinery that cost $214,000 on 1 January 20X1 was sold for $88,500 on 30 June 20x6. It was being depreciated over a 10-year life by the straight-line method, assuming its residual value would be $23,000. A building that cost $1.920,000, residual value $122,000, was being depreciated over 20 years by the straight-line method. At the beginning of 20X6, when the structure was 8 years old, an additional wing component was constructed at a cost of $665,000. The estimated life of the wing considered separately was 15 years, and its residual value was expected to be $36,500. 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. c. 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.) & Answer is not complete. Debit Credit No Transaction General Journal X 105,050 X 1 a-1 Accounts receivable Accumulated depreciation equipment 105,050 X 88,500 2 a-2 Cash 20,450 X Accumulated depreciation, equipment Cost of goods sold X 108,950 X 665,000 3 b Accumulated depreciation, building wing Cash 665,000 131,800 X 4 C-1 Depreciation expense Accumulated depreciation, building Accumulated depreciation, building wing x 89,900 41,900 X X 5 C-2 X Accumulated depreciation, building 89,900 2. Complete the part of the balance sheet given below showing how the building and attached wing would be reported. Answer is not complete. Building Building, wing addition $ 1,110,900 $ $ 1,110,900 623,100 623,100 $ 1,734,000 Total