Sophie Miller Associates surveys American eating habits. The company's accounts include Land, Buildings, Office Equipment, and Communication Equipment, with a separate Accurrulated Depreciation account for each depreciable asset. During 2018, Sophie Miller Associates completed the following transactions: (Click the icon to view the transactions.) Record the transactions in the journal of Sophie Miller Associates. (Record debils first, then credits. Select the explanation on the last line of the joumal entry table.) Jan. 1: Purchased office equipment, S112,000. Paid $77,000 cash and financed the remainder with a note payable. (Record a single compound journal entry) Date Accounts and Explanation Debit Credit Jan. 1 i More Info Jan 1 Apr. 1 Accumulated Depreciation Building Accumulated Depreciation Communication Equipment Accumulated Depreciation Office Equipment Building Cash Communication Equipment Depreciation Expense-Building Depreciation Expense-Communication Equipment Depreciation Expense-Office Equipment Gain on Disposal Land Loss on Disposal Notes Payable Office Equipment Choose from any list or enter any number in the input fields and then click Check Answer. Purchased office equipment, $112,000. Paid $77,000 cash and financed the remainder with a note payable. Acquired land and communication equipment in a lump-sum purchase. Total cost was S430,000 paid in cash. An independent appraisal valued the land at 5338,625 and the communication equipment at $112,875. Sold a building that cost $540,000 (accumulated depreciation of $240,000 through December 31 of the preceding year). Sophie Miller Associates received $360,000 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 $60,000. 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-declining balance method over five years with a $5,000 residual value. Sep. 1 Dec. 31 Print Done ? 5 remaining Clear All Check Answer Date Accounts and Explanation Debit Credit Jan. 1 To record depreciation on building. To record depreciation on communication equipment. To record depreciation on office equipment. To record purchase of land and communication equipment with cash. To record purchase of office equipment with cash and note payable. To record sale of building