Prepare the journal entry necessary to record the depreciation expense on the building in 2021.

then Compute depreciation expense on the equipment for 2021

On January 1, 2017, Sage Company purchased a building and equipment that have the following useful lives, salvage values, and costs. Building, 40year estimated useful life, $49,200 salvage value, $323,000 cost Equipment, 12year estimated useful life, $11,200 salvage value, $99,400 cost The building has been depreciated under the doubledecliningbalance method through 2020. In 2021, the company decided to switch to the straight-line method of depreciation. Sage also decided to change the total useful life of the equipment to 9 years, with a salvage value of $5,200 at the end of that time. The equipment is depreciated using the straightline method. la} Prepare the journal entry necessary to record the depreciation expense on the building in 2021. [Round answers ta 0 decimal places. as. 125. Credit aaaaanttltles are automatically indented when amauntls mtered. Da not lndent marmally. lfna entry is required, select'No Enmr'fortheaaaounttlesandenmwfortneammw Account TIHES and Explanaljon Credit l%l | l lb) Compute depreciation expense on the equipment for 2021. [and mowers to 0 declmlplaces. es. 125.) 2021 Depreciation expense $ l