Steve Grant, the new controller of Ayayai Ltd., has reviewed the expected useful lives and residual values of selected depreciable assets at the beginning of 2020. His findings are as follows. Date Accumulated Depreciation Total Useful life in Years Residual Value Type of Asset Acquired Cost 1/1/20 Old Proposed Old Proposed Building 1/1/10 812,000 193,000 40 50 40,000 19,000 Warehouse 1/1/15 120,000 23.100 25 20 4,500 35,400 All assets are depreciated by the straight-line method. Ayayai uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Grant's proposed changes. Compute the revised annual depreciation on each asset in 2020. Building Warehouse Revised annual depreciation E E e Textbook and Media Assistance Used List of Accounts Prepare the entry to record depreciation on the building in 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31