Solich purchased all the assets at the beginning of 2016 ( 3 years ago). The building is depreciated over a 20 -year service life using the double-declining-balance method and estimating no residual value. The equipment is depreciated over a 10 year useful life using the straight-line method with an estimated residual value of $14,000. The patent is estimated to have a five-year service life with no residual value and is amortized using the straight-line method. Depreciation and amortization have been recorded for 2016 and 2017. equired: For the year ended December 31, 2018, record depreciation expense for buildings and equipment. Land is not depreciated. (If no ntry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the depreciation on the building