On January 1, Mitzu Company pays a lump-sum amount of $2,600,000 for land, Building 1, Building 2, and Land Improvements 1. Building 1 has no value and will be demolished. Building 2 will be an office and is appraised at $780,000. with a useful life of 20 years and a $70,000 salvage value. Land Improvements 1 is valued at $420,000 and is expected to last another 14 years with no salvage value. The land is valued at $1,800,000. The company also incurs the following additional costs. Cost to demolish Building 1 cost of additional land grading Cost of new Land Improvements 2, having a 20-year useful life and no salpage value 2,262,000 . Using the straight-line method, prepare the December 31 adjusting entries to record depreciation for the first year these assets were use. 1 Record the year-end adjusting entry fof the depreciation expense of Building 2 . 2 . Record the year-end adjusting entry for the depreciation expense of Buliding 3. 3 Record the year-end adjusting entry for the depreciation expense of Land improvements 1. 4 Record the year-end adjusting entry for the depreciation expense of Land Improvements 2