Required information (The following information applies to the questions displayed below) Cheesesteak's Sandwich Shop had the following long-term asset balances as of January 1, 2024: Additional information: - Cheesesteak's purchased all the assets at the beginning of 2022. - The buliding is depreciated over a 20 -yeor service life using the double-declining-balance method and estimating no residual value. - The equipment is depreciated over a 8 -year useful life using the straight-line method with an estimated residual value of $12,000. - The patent is estimated to have a five-year sorvice life with no residual value and is amortized using the straight-line method. - Depreciation and amortization have been recorded for 2022 and 2023 (first two years). Required: 1. For the year ended December 31, 2024 (third year), record depreciation expense for bulldings and equipment Land is not depreciated. of no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet