Required information [The following information applies to the questions displayed below.] On January 1, Mitzu Company pays a lump-sum amount of $2,700,000 for land, Building 1. Building 2, and Land Improvements 1. Buliding 1 has no value and will be demolished. Building 2 will be an office and is appraised at $720.000. with a useful iffe of 20 years and a $80.000 salvage value. Land Improvements 1 is valued at $480,000 and is expected to last another 16 years with no salvage value. The land is valued at $1,800,000. The company also incurs the following additional costs. Cost to denolish Building 1 : Cost of additional land grading $347,400 Cost to construct Bujlding 3 , having a useful life of 25 years and a $400,000 salvage value Cost of ner Land inproxenents 2, haying a 20 year useful life and no salvage value 2,302,066 173,000 Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of Building 2. Note: Enter debits before credits. Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of Building 3. Nate: Enter debits before credits. Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of Land Improvements 1. Note: Enter debits before credits. Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of Land Improvements 2. Note: Enter debits before credits