Sophie Miler Associates surveys American eating habits. The company's accounts include Land, Buldings, Office Equipment, and Communicaton Equipment, with a separate Accumulated Depreciation account for each depreciable asset. During 2024, Sophile Mtiter Associatos completed the following transactions: (1) (Click the icon to view the transactions). Record the transactions in the journal of Scohie Miler: Associates: (Record debits first, then credits. Select the explanaton on the last ine of the joumal entry table) More info Jan. 1 Purchased office equipment, $115,000. Paid $79,000 cash and financed the remainder with a note payable. Apr. 1 Acquired land and communication equipment in a lump-sum purchase. Total cost was $360,000 paid in cash. An independent appraisal valued the land at $283,500 and the communication equil. Sep. 1 Sold a building that cost $570,000 (accumulated depreciation of $265,000 through December 31 of the preceding year). Sophie Miller Associates received $410,000 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. Dec. 31 Recorded depreciation as follows: Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value. Office equipment is depreciated using the double-decliningbalance method over five years with a $4,000 residual value