B. (25 pts.) Sandview Co. completed the following transactions involving the purchase of a new office building. 2012 Jan. 1 Paid $120,000 cash for a new office building with an estimated twenty-year useful life and $12,000 salvage value. Dec. 31 Recorded annual straight-line depreciation for the building. 2013 Jan. 1 Sold the office building for $118,200 cash. Required: Prepare journal entries for the transactions and events above