LA IML IMI AL T A Bb Cade AaBbCode AaBbCcD Tolo III 5 Normal No Spacing Heading 1 Heading 2 Problem V: (12 pts) Baker Corp. has the following account balances related to land and a building as of August 1, 2020: Debit Credit Land $ 400,000 Building $ 7,000,000 Accumulated Depreciation (through 8/1/20) S 3,000,000 The building was purchased several years ago and has been used in the business ever since. In August of 2020, the following transactions occurred releted to the building: . On August 1, the building is demolished at the cost of $20,000 cash. On August 10, scrap metal generated from the building's demolishment was sold for $18,000 cash. On August 31, Baker recorded the full disposal of the building. Required: Record the cost to demolish the old building, the cash received from the scrap metal sale, and the disposal of the building. . . Date August 1 Debit Credit August 10 August 31 FOCUS MacBook Air