\begin{tabular}{|c|c|c|c|} \hline Date. & Accounts and Explanatian & Debala & Cneda \\ \hline \multicolumn{4}{|l|}{sin1} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Bumal eney) \begin{tabular}{|c|c|c|c|} \hline Dote & Accounte and fiplanatien & Debit & Credit \\ \hline \multicolumn{4}{|l|}{ Ase 1} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline Bate & Ateounts and Explatation & Debal & Eredil \\ \hline \multicolumn{4}{|l|}{ fee 1} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Now record the sale of the building on September 1. More info Jan. 1 Purchased office equipment, $110,000. Paid $77,000 cash and financed the remainder with a note payable. Apr. 1 Acquired land and communication equipment in a lump-sum purchase. Total cost was $420,000 paid in cash. An independent appraisal valued the land at $330,750 and the communication equipment at $110,250. Sep. 1 Sold a building that cost $550,000 (accumulated depreciation of $260,000 through December 31 of the preceding year). Grace Carol Associates received $330,000 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 $40,000. 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-decliningbalance method over five years with a $3,000 residual value