Our company purchased a building on August 1 st 2016 . The cost of the building was $1,280,000. We expect the building to have a useful life of 35 years and the residual value (salvage value) of the building at the end of that 35 years is expected to be $80,000. We are using straight-line depreciation. Round your answers to the nearest dollar (do not use the cents places.) - Please prepare, in general journal format, the adjusting entry that should have been made for depreciation on December 31, 2016. - Please prepare, in general journal format, the adjusting entry that should have been made for depreciation on December 31, 2017. What is the total amount that is now a balance in the accumulated depreciation account? (On this one, I just want you to figure some numbers. This one is not a journal entry.)