Exercise 9-6 (Part Level Submission) Victor Mineli, the new controller of Blossom Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2017. Here are his findings: Type of Accumulated Depreciation, Jan. 1, 2017 Useful Life (in years) old Proposed Salvage Value old Proposed Date Acquired Jan. 1, 2009 Asset Cost Building $700,000 $129,900 40 48 $50,500 $35,100 Warehouse Jan. 1, 2012 115,000 22,100 25 20 4,500 3,000 All assets are depreciated by the straight-line method. Blossom Company 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.) (a) Your answer is correct. Compute the revised annual depreciation on each asset in 2017. (Round answers to o decimal places, e.g. 125.) Building 13375 Warehouse 5993 Revised annual depreciation Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT VIDEO: SIMILAR EXERCISE Attempts: 1 of 3 used (b) Prepare the entry to record depreciation on the building in 2017. (Round answers to 0 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 o for the amounts.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work