Required information E9-2 (Algo) Computing and Recording a Basket Purchase and Straight-Line Depreciation [LO 9-2, LO 9-3] [The following information applies to the questions displayed below.] Bridge City Consulting bought a building and the land on which it is located for $180,000cash. The land is estimated to represent 70 percent of the purchase price. The company paid $10,000 for building renovations before it was ready for use. E9-2 (Algo) Part 2 Required: 2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) A Record all expenditures for the land and buildings assuming all transactions were paid for with cash and occurred at the start of the year. 3. Compate straight Aine depreciation on the bulding at the end of one year, assuming an estimaqed to-year usefui ale and a sto.oco estimated residual value. (Do not round intermediate calculations) 4. What shovid be the book value of (d) the land and (C) the bulding an the end of year 27