PLEASE SOLVE ASAP!!! On January $1,2019,$ Wildhorse Company purchased a building and machinery that have the following useful lives, salvage value, and costs.

Building, $25-$year estimated useful life, $$7,590,000$ cost$,$ $$759,000$ salvage value

Machinery, $10-$year estimated useful life, $$1,510,000$ cost$,$ no salvage value

The building has been depreciated under the straight$-$line method through $2023.$ In $2024,$ the company decided to switch to the double$-$declining balance method of depreciation for the building. Wildhorse also decided to change the total useful life of the machinery to $8$ years, with a salvage value of $$75,500$ at the end of $2024.$ The machinery is depreciated using the straight$-$line method.

$($a$)$

Prepare the journal entry necessary to record the depreciation expense on the building in $2024.($If no entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.$)$

Account Titles and Explanation

Debit

Credit

Attempts: $0$ of $1$ used

$($b$)$

Compute depreciation expense on the machinery for $2024.$

Depreciation expense

$

Attempts: $0$ of $1$ used