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Victor Mineli, the new controller of Sandhill Co., has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2017 Here are his findings Useful Life (in years) Accumulated Depreciation, Jan. 1, 2017 Old Proposed Salvage Value Type of Asset Proposed $70,500 36,500 5,400 Acquired Cost Building Jan. 1, 2009 $770,000 $139,900 40 48 Warehouse Jan. 1,2012 142,000 27,130 25 20 6,350 All assets are depreciated by the straight-line method. Sandhill Co. uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Victor's proposed changes. (The Proposed" useful life is total life, not remaining life.) Compute the revised annual depreciation on each asset in 2017. (Round answers to O decimal places, e.g. 125.) Building Warehouse Revised annual depreciation $ 13375 $ 5993.33 eTextbook and Media List of Accounts Prepare the entry to record depreciation on the building in 2017. (Round answers to O decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit

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