The plant building of Xon Corporation is old (estimated remaining useful life is 12 years) and needs continuous maintenance and repairs. The company's accounts show that the building originally cost $420,000; and accumulated depreciation was $280,000 at the beginning of the current year. During the current year, the following expenditures relating to the plant building are made. 1. Continuing, frequent, and low-cost repairs $23,800 2. Added a new storage shed attached to the building; estimated useful life of eight years 50,400 3. Removed roof and replaced it with guaranteed, modern roof* 70,000 4. Unusual and infrequent repairs due to damage from flood; repairs did not increase the use, value, or the economic life of the asset 8,400 5. Complete overhaul of the plumbing system (old costs unknown) 17,500 Original cost of the roof was $56,000 Prepare the journal entry to record each item 1 through 5, assuming all items are paid in cash. Note: Round your answers to the nearest whole number. Account Name Debit Credit Repair Expense 23,800 0 Cash 0 23,800 (1) To record repair. Building Cash (2) To record shed. Accumulated Depreciation Loss on Asset Replacement Building (3a) To remove old roof. Loss on Asset Exchange Cash (3b) To record new roof. Loss on Construction of Building Cash (4) To record repair. Accumulated Depreciation Cash (5) To record overhaul of plumbing system. > > > 50,400 0 0 50,400 100,000 0 x 70,000 0x 0 56,000 > > > > 0 0x 0 0 x 8,400 0x 0 8,400 17,500 0 0 17,500 Cash Prepaid Insurance Equipment Building Land Construction in Process Accumulated Depreciation Accounts Payable Property Tax Payable Asset Retirement Obligation Note Payable Discount on Note Payable Common Stock Paid-in Capital in Excess of Par-Common Stock Contribution Revenue Gain on Asset Exchange Accretion Expense Depreciation Expense Insurance Expense Interest Expense Repair Expense Loss on Asset Exchange Loss on Asset Replacement Loss on Construction of Building Loss on Disposal