Whitney Plumb Associates survey American dating habil. The company's accounts include and Buildingi Oficent and Communication Equipowth pole Alcud Deprecation account for each depreciable asset During 2024 Whitney Plomb Associates completed the fofowing transaction (Click the icon to view the transactions) Record the transaction in the pumatol Whitney Plumb Awoda Mecord debitor Sleepletion on the outer Jan 1Purchased office equipment, 5120.000. Paid 572,000 cuth and financed a comandes with a note payah Becordasang compound any) Date Accounts and Explanation Credit Jan 1 Debit More info Jan. 1 Purchased office equipment, $120,000 Paid $72,000 cash and financed the remainder with a note payable Apr. 1 Acquired land and communication equipment in a lump-sum purchase. Total cost was $450,000 paid in cash. An independent appraisal valued the land at $354,375 and the communication equipment at $118,125. Sep. 1 Sold a building that cost $540,000 (accumulated depreciation of $275.000 through December 31 of the preceding year). Whitney Plumb Associates received $430,000 cash from the sale of the building Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $75,000 Dec. 31 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- balance method over five years with a $4.000 residual value