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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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