oblems Check my world Required information [The following information applies to the questions displayed below.) Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total cash price of $850,000. The estimated market values of the purchased assets are building, $458,150, land, $243,100; land improvements, $37,400; and four vehicles, $196,350. 4. Compared to straight-line depreciation, does accelerated depreciation result in payment of less total taxes over the asset's life? Is tax payment less under accelerated depreciation? Journal entry worksheet 3 4 5 6 Paid $4,000 to install air conditioning in the loader to enable operations under harsher conditions. This increased the estimated salvage value of the loader by another $1,200. Note: Enter debits before credits. General Journal Debit Credit Date Jan 3, Year 1 ew transaction list Journal entry worksheet