Required information [The following information applies to the questions displayed below.] Bridge City Consulting bought a bullding and the land on which it is located for $100,000 cash. The land is estimated to tepresent 60 percent of the purchase price. The company paid $10,000 for building renovations before it was ready for use. Required: 2. Prepare the journai entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the yeat. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Plecord all expenditures for the Land and bulldings assuming all transactions were paid for with cosh and occurred at the start of the year. liote: imer idebita before crects. Required information [The following information applles to the questions displayed below] Bridge City Consulting bought a bullding and the land on which it is located for $100,000 cash. The land is estimated to represent 60 percent of the purchase price. The company paid $10,000 for bullding renovations before it was ready for use. 3. Compute straight-ine depreciation on the building at the end of one year, assuming an estimated 10 -year useful life and a 511.000 estimated residual value. (Do not round intermediate calculations.) 4. What should be the book value of (a) the land and (b) the bullding at the end of yeat 2