Sep. 1: Sold a building that cost $570,000 (accumulated depreciation of $265.000 through December 31 of the preceding year). Janie Mills Associates received $350,000 cash from the sale of the building. Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $45,000 Before we record the sale of the building, we must record depreciation on the building through September 1, 2018 Date Accounts and Explanation Credit Sep. 1 Depreciation Expenso Accumulated Depreciation To record depreciation on building