Based on the following selected data journalize the adjusting entries as of de

Based on the following selected data journalize the adjusting entries as of december 31 of the current year

e. Depreciation is computed as follows:
ASSET COST RESIDUAL VALUE ACQUISTION DATE USEFUL LIFE IN YEARS DEPRECIATION METHOD
buildings 650000 0 Jan 2 50 double declining balance

office equ 176000 16000 Jan 3 5 straight line

store equip 80000 8000 July 1 10 straight line
f. A patent costing $22500 when acquired on January 2 has a remaining legal life of 10 years and is expected to have value for five
years.
g. The cost of mineral rights was $220000. Of the estimated deposit of 400000 tons of ore 24000 tons were mined and sold during the
year.

j. Interest was accrued on the note receivable received on October 17

INFO NEEDED FOR j. October 17: Sold office equipment in exchange for $60000 cash plus receipt of a $40000 120-day 6% note. The equipment
had cost $140000 and had accumulated depreciation of $25000 as of October 1.