On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $970,000 to the various types of assets along with estimated useful lives and residual values are as follows: Estimated Useful Life (in years) N/A Asset Land Building Equipment Vehicles Total 20 Estimated Residual Value N/A none 12% of cost $13,000 Cost $115, eee 470,000 270,000 115,000 $970,000 le On June 29, 2022, equipment included in the March 31, 2021, purchase that cost $97.000 was sold for $77,000. 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 Print References Required 1 Required 2 Required 3 Compute depreciation expense on the building, equipment, and vehicles for 2021. (Do not round intermediate calculat Depreciation Expense Building Equipment Vehicles Journal entry worksheet DOK int Record the depreciation on machinery sold. ences Note: Enter debits before credits General Journal Debit Credit Date June 29, 2022 Record entry Clear entry View general journal Journal entry worksheet Record the sale of machinery. Note: Enter debits before credits General Journal Debit Credit Date June 29, 2022 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. ces Required 1 Required 2 Required 3 Compute depreciation expense on the building, remaining equipment, and vehicles for 2022. (Do not round intermediate calculations.) Depreciation Expense Building Equipment Vehicles