We P9-38B (similar to) Question Help Ruthie Tarrier Associates surveys American eating habits. The company's accounts include Land, Buildings, Office Equipment, and Communication Equipment, with a separate Accumulated Depreciation account for each depreciable asset. During 2018, Ruthie Tarrier Associates completed the following transactions: (Click the icon to view the transactions.) Record the transactions in the journal of Ruthie Tarrier Associates. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Jan. 1: Purchased office equipment. $112.000. Paid $73,000 cash and financed the remainder with a note payable. (Record a single compound journal entry) Accounts and Explanation Debit Credit Jan. 1 Office Equipment 112,000 Cash 73,000 Notes Payable 39,000 To record purchase of office equipment with cash and note payable Apr. 1: Acquired land and communication equipment in a lump-sum purchase. Total cost was $420,000 paid in cash. An independent appraisal valued the land at $330,750 and the communication equipment at $110.250. (Record a single compound journal entry) Date Accounts and Explanation Debit Credit Apr 1 Land Communication Equipment Cash More Info Purchased office equipment, $112.000. Paid $73,000 cash and financed the remainder Jan. 1 with a note payable. Acquired land and communication equipment in a lump-sum purchase, Total cost was $420,000 paid in cash. An independent appraisal valued the land at $330,750 and the Apr. 1 communication equipment at $110.250. Sold a building that cost $800,000 (accumulated depreciation of $245,000 through December 31 of the preceding year). Ruthie Tarrier Associates received $360,000 cash from the sale of the building Depreciation is computed on a straight-line basis. The Sep. 1 building has a 40-year useful life and a residual value of $45.000 Recorded depreciation as follows: Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value Office equipment is depreciated using the double-declining- Dec 31 balance method over five years with a $3,000 residual value. Print Done