Prepare the following journal entries: 8. Tom Company purchased a company vehicle on January 1, 2021 at an original cost of $35,000, with an estimated salvage value of $6,000 and useful life of 6 years. Calculate depreciation expense in the first year (2021) assuming the sum of the year's digits method of depreciation. 9. Mark Company purchased a piece of manufacturing equipment on January 1, 2021, at an original cost of $150,000, with an estimated salvage value of $15,000 and useful life of 5 years. On December 31, 2021, Mark overhauled the equipment at a cost of $25,000 to further extend its useful life by an additional 2 years. Calculate depreciation expense in the second year (2022) assuming the straight-line method of depreciation. 10. Adrienne Company purchased a building on January 1, 2021, at an original cost of $500,000, with an estimated salvage value of $100,000, and an estimated useful life of 15 years. Five years later, Adrienne sold the building for $425,000. Record the journal entry on January 1, 2026, to recognize any gain or loss on the transaction assuming the straight-line method of depreciation