On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $940,000 to the various types of assets along with estimated useful lives and residual values are as follows: Asset Land Cost Estimated Residual Value Estimated Useful Life (in years) N/A Building Equipment Vehicles Total $ 130,000 440,000 N/A none 240,000 130,000 12% of cost $13,000 $ 940,000 25 10 On June 29, 2022, equipment included in the March 31, 2021, purchase that cost $94,000 was sold for $74,000. Herzog uses the straight-line depreciation method for building and equipment and the double-declining-balance method for vehicles. Partial-year depreciation is calculated based on the number of months an asset is in service. Required: 1. Compute depreciation expense on the building, equipment, and vehicles for 2021. 2. Prepare the journal entries to record the depreciation on the equipment sold on June 29, 2022, and the sale of equipment. 3. Compute depreciation expense on the building, remaining equipment, and vehicles for 2022. On June 29, 2022, equipment included in the March 31, 2021, purchase that cost $94,000 was sold for $74,000. Herzog uses the straight-line depreciation method for building and equipment and the double-declining-balance method for vehicles. Partial-year depreciation is calculated based on the number of months an asset is in service. Required: 1. Compute depreciation expense on the building, equipment, and vehicles for 2021. 2. Prepare the journal entries to record the depreciation on the equipment sold on June 29, 2022, and the sale of equipment. 3. Compute depreciation expense on the building, remaining equipment, and vehicles for 2022. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute depreciation expense on the building, equipment, and vehicles for 2021. (Do not round intermediate calculations.) Building Equipment Vehicles Depreciation Expense < Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the journal entries to record the depreciation on the equipment sold on June 29, 2022, and the sale of equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.) View transaction list Journal entry worksheet < 1 2 Record the depreciation on machinery sold. Note: Enter debits before credits. > Journal entry worksheet < 1 2 Record the sale of machinery. Note: Enter debits before credits. Date June 29, 2022 General Journal Debit Credit Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute depreciation expense on the building, remaining equipment, and vehicles for 2022. (Do not round intermediate calculations.) Building Equipment Vehicles Depreciation Expense < Required 2 Required 3 >