[The following information applies to the questions displayed below.) Togo's Sandwich Shop had the following long-term asset balances as of January 1, 2021: Accumulated Depreciation Land Building Equipment Patent Cost $ 85,000 560.000 145,000 125,000 $(201,600) (30,000) (50,000) Book Value $ 85,000 358,400 115,000 75,000 Togo's purchased all the assets at the beginning of 2019 (3 years ago). The building is depreciated over a 10-year service life using the double-declining balance method and estimating no residual value. The equipment is depreciated over a nine-year useful life using the straight-line method with an estimated residual value of $10,000. 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 2019 and 2020. Required: 1. For the year ended December 31, 2021, record depreciation expense for buildings and equipment. Land is not depreciated. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list