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TASK 6. On December 21, 2020 a strong storm rolled in and the roof started to leak. Thankfully no inventory was damaged as a result

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TASK 6. On December 21, 2020 a strong storm rolled in and the roof started to leak. Thankfully no inventory was damaged as a result but the damage to the roof was not covered by insurance. Caitlyn realized the original roof while relatively new, was poorly installed so she decided to get a new roof installed on December 27, 2020. The previous roof was included in the building that was being amortized over 25 years, and not split out as an individual component. The building was new when she bought it 2015. This new roof will last 15 years. The cost of new construction has been stable over the past 5 years and the cost of the new roof was $15,000. Record the applicable journal entries for this event

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