record depreciation expense on the building for BOTH year 2020 and 2021

Modeling Consultants putchased a building for $500,000 and copreciatod it on a straght-ine basis crer 40 years. The estimated residual value was $55,000. Aler using the buitdry for 20 years, the residual value to $20,250 Requirement 1. Record deprociation expense co the buiding for years 20 and 21 . (Record debis first, then credse. Exclode explanations from any loumal entries ) Stait by recording cepreciation expense on the building for year 20