Solich Sandwich Shop had the following long-term asset balances as of January 1, 2024:


Cost Accumulated Depreciation Book Value
Land $95,000 0 $95,000
Building 460,000 $(165,600) 294,400
Equipment 235,000 (50,000) 185,000
Patent 250,000 (100,000) 150,000


Solich purchased all the assets at the beginning of 2022.
The building is depreciated over a 10-year service life using the double-declining-balance method and estimating no residual value.
The equipment is depreciated over a nine-year service life using the straight-line method with an estimated residual value of $10,000.
The patent is estimated to have a five-year useful life with no residual value and is amortized using the straight-line method.
Depreciation and amortization have been recorded for 2022 and 2023 (first two years).
Required:

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.)

Journal Entry Worksheet:
1. Record depreciation of the building.
2. Record depreciation of the equipment.