More info - Jan. 1 Apr. 1 Sep. 1 Purchased office equipment, $120,000 Paid $72,000 cash and financed the remainder with a note payable Acquired land and communication equipment in a lump-sum purchase. Total cost was $450,000 paid in cash. An independent appraisal valued the land at $354 375 and the communication equipment at $118.125 Sold a building that cost $540,000 (accumulated depreciation of $275 000 through December 31 of the preceding year). Whitney Plumb Associates received $430,000 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 $75,000 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 $4.000 residual value Dec. 31 the cor We used Arendateur granding habits. The company account date and Badings Other Comment and Communion paper with a pro Accountand beganciation content During Why the Click the icon to view the ansado Record du tractions the male Why Pub Accord de fleste and see the plan the last the way Date Accounts and planation Debt Credit Jan + Ofice Equipment 120.000 Noles Pay Ca 72 000 To reconhece we will er land and communication in mucharelutalo 15.10 cash Anand candingdom) De Accounts and plant OD Credit Art