Question 3: Pravin's Pottery had the opportunity to purchase the following assets on October 1st 2020: Land $500,000 Building 250,000 Kilns 85.000 Truck 76,000 Total ?? Due to his incredible negotiating skills, Pravin was able to purchase all of these assets for $800,000. a) Journalize the purchase of these assets on October 1 2020. b) The following information pertains to depreciation: a. Building: Straight Line method SV = 25,000 EUL: 20 years b. Kilns: Declining Balance: 20% SV = 8,000 EUL: 12 years c. Truck: Double Declining Balance SV = 10,000 EUL: 8 years Journalize the year end depreciation on December 31 2020. c) On November 1 2021. Pravin traded in his old Truck for a new Truck with a list price of $95,000 The trade-in on the old Truck was 48,000; the FMV of the old truck was $35.000. Journalize the Trade-In on November 1 2021