Required Information Problem 7-78 Compute depreciation, amortization, and book value of long-term assets (L07-4, 7-5) [The following information applies to the questions displayed below. Togo's Sandwich Shop had the following long-term asset balances as of January 1, 2021 Accumulated Depreciation Land Building Equipment Patent cost $ 72,eee 547,eee 136,300 92,see $(195,928 (27,400 (37,ge) Book Value $72. dae 350.ee 1e& 55 See Togo's purchased all the assets at the beginning of 2019 (3 years ago). The building is depreciated over a 10-year service life using the double-declining-balance method and estimating no residual value. The equipment is depreciated over a 9- year useful life using the straight-line method with an estimated residual value of $13.000. The patent is estimated to have a five-year service life with no residual value and is amortized using the straight-line method. Depreciation and amortization have been recorded for 2019 and 2020. Problem 7-7B Part 2 2. For the year ended December 31, 2021. 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.) View transaction list Journal entry worksheet