Tuft Hardware Consultants purchased a building for $750,000 and depreciated it on a straight-line basis over a 35-year period. The ostimated residual value is $120,000. Ater using the building for 15 years, Tuft realized that wear and tear on the building would wear it out before 35 years and that the estimated residual value should be $106,000. Starting with the 16th yoar, Tuft began depreciating the building over a revised total life of 25 years using the new residunl valun. Journalize depreciation expense on the building for years 15 and 16. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by joumalzing the depreciation on the building for year 15. Accounts and Explanation Debit Credit Date