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Record and post the purchase of building, sale of building, and depreciation in appropriate journals (ex. sales journal, cash payments journal, etc). Date Accounts DR
Record and post the purchase of building, sale of building, and depreciation in appropriate journals (ex. sales journal, cash payments journal, etc).
| Date | Accounts | DR | CR |
| Jan 1, 2015 | Building | 300,000 | |
| Cash | 300,000 | ||
| Dec 31, 2015 | Depreciation expense - Building | 10,000 | |
| Accumulated depreciation - Building | 10,000 | ||
| Dec 31, 2016 | Depreciation expense - Building | 10,000 | |
| Accumulated depreciation - Building | 10,000 | ||
| Dec 31, 2017 | Depreciation expense - Building | 10,000 | |
| Accumulated depreciation - Building | 10,000 | ||
| Dec 31, 2018 | Depreciation expense - Building | 10,000 | |
| Accumulated depreciation - Building | 10,000 | ||
| Dec 31, 2019 | Depreciation expense - Building | 10,000 | |
| Accumulated depreciation - Building | 10,000 | ||
| Dec 31. 2019 | Cash | 260,000 | |
| Accumulated depreciation - building | 50,000 | ||
| Gain on sale of building | 10,000 | ||
| Building | 300,000 |
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