Required For each case, prepare the journal entries to record depreciation for 2011 and 2017. Complete the journal entries for each case. (Record debits first, then credits. Explanations are not required.) Case A: Begin by preparing the entry to record depreciation for December 31, 2011. Date Dec. 31, 2011 Accounts Debit Credit Accounts Now prepare the entry to record depreciation for December 31, 2017. (Round to the nearest whole dollar.) Date Debit Credit Dec. 31, 2017 Case B: Begin by preparing the entry to record depreciation for December 31, 2011. Date Dec. 31, 2011 Accounts Debit Credit Now prepare the entry to record depreciation for December 31, 2017. (Round to the nearest whole dollar.) Date Dec. 31, 2017 Accounts Debit Credit Cases A & B Case A: A building costing $12,000,000 was purchased on January 1, 2011. Based on management's best estimates, the useful life of the building was estimated to be 40 years and of no residual value at that time. During 2017, it was discovered that the local government had plans to build a highway where the building stands. This project would require significant engineering and regulatory approval, so the site would be expropriated by January 1, 2023. The government agreed to pay $300,000 compensation for the building. The company uses the straight-line method to determine depreciation expense. Case B: This is the same as Case A except the company uses the declining-balance method. The rate will be 2+40 years, or 5%, through December 31, 2016, and 2-12, or 16.67%, starting on January 1, 2017. Print Done