Please help and explain the calculations of the journal entry

Required information Problem 8-3A (Algo) Asset cost allocation; straight-line depreciation LO C1, P1 [The following information applies to the questions displayed below.] On January 1, Mitzu Company pays a lump-sum amount of $2,700,000 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 $540,000, with a useful life of 20 years and a $80,000 salvage value. Land Improvements 1 is valued at $600,000 and is expected to last another 20 years with no salvage value. The land is valued at $1,860,000. The company also incurs the following additional costs. Cost to demolish Building 1 Cost of additional land grading Cost to construct Building 3, having a useful life of 25 years and a $400,000 salvage value 2,282,000 Cost of new Land Improvements 2, having a 20 -year useful life and no salvage value 173,000 Problem 8-3A (Algo) Part 3 Using the straight-line method, prepare the December 31 adjusting entries to record depreciation for the first year these assets were n use. View previous attemp 17 (i) Required information View transaction list View journal entry worksheet Part 3 of 3