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[The following information applies to the questions displayed below.] Hero Sandwich Shop had...

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Accounting

[The following information applies to the questions displayed below.]
Hero Sandwich Shop had the following long-term asset balances as of January 1,2024:
\table[[Cost,\table[[Accumulated],[Depreciation]],Book Value,],[Land,$92,000,0,$92,000
1. For the year ended December 31,2024(third year), record depreciation expense for buildings and equipment. Land is not depreciated. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Record deprecation of the building then equipment.
2. For the year ended December 31,2024, record amortization expense for the patent. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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