You are the accountant for Alphabet Inc. and need to record the depreciation expense for their office building. The building was purchased on January 1, 2020, for $1,000,000. It has a useful life of 25 years and a residual value of $100,000. Calculate the annual depreciation expense using the straight-line method and prepare the journal entry for the depreciation expense for the year ended December 31, 2023.