Required information E9-2 Computing and Recording a Basket Purchase and Straight-Line Depreciation (LO 9-2, LO 9-3) (The following information applies to the questions displayed below) Bridge City Consulting bought a building and the land on which it is located for $195,000 cash. The land is estimated to represent 70 percent of the purchase price. The company paid $20,000 for building renovations before it was ready for use E9-2 Part 2 Required: 2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.)