Week $6$: Wholesale Consultants purchased a building for $$390,000$ and depreciated it on a straight$-$line basis over a $30-$year period. The estimated residual value is $$90,000.$ After using the building for

$15$ years, Wholesale Consultants realized that wear and tear on the building would wear it out before $30$ years and that the estimated residual value should be $$76,000.$ Starting with the

$16$th year, Wholesale Consultants began depreciating the building over a revised total life of $25$ years using the new residual value. 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 journalizing the depreciation on the building for year $15.$