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 $165,000 cash. The land is estimated to represent 50 percent of the purchase price. The company pald $30,000 for bullding renovations before It was ready for use. quired: 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 flist account fleld.) Journal entry worksheet Record all expenditures for the land and buildings assuming all transactions were paid for with cash and occurred at the start of the year. Note: Enter debits before credits. 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 $165,000 cash. The land is estimated to represent 50 percent of the purchase price. The company pald $30,000 for bullding renovations before it was ready for use. - Compute straight-line depreclation on the bullding at the end of one year, assuming an estlmated 10-year useful life and a $19,500 estimated residual value. (Do not round Intermedlate calculatlons.) What should be the book value of (a) the land and (b) the bullding at the end of year 2