Please do all parts and in a entry format not just equations!!

Required information Problem 7-7A (Algo) Compute depreciation, amortization, and book value of long-term assets (LO7-4, 75) [The following information applies to the questions displayed below] Cheesesteak Sandwich Shop had the following long-term asset balances as of January 1,2024: - Cheesesteak purchased all the assets at the beginning of 2022. - The bullding is depreciated over a 20 -year service life using the double-declining-balance method and estimating no restdual value. - The equipment is depreciated over a 8-year service life using the straight-line method with an estimated residual value of $10.000. - The patent is estimated to have a five-ycor useful ife with no residual value and is amortized using the straight-line method. - Depreciation and amortization have been recorded for 2022 and 2923 (first two years). Problem 7-7A (Algo) Part 1 Required: 1. For the year ended December 31, 2024 (third year), record deprecintion expense for bulldings and equipment. Land is not depreclated. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 3. Calculate the book value for each of the four long-term assets at December 31, 2024. 2. For the year ended December 31, 2024, record amortization expense for the patent. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)