Additional Problem 6 (Part Level Submission) Sunland Ltd, owned several manufact

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Additional Problem 6 (Part Level Submission) Sunland Ltd, owned several manufacturing facilities. On September 15 of the current year, Sunland decided to sell one of its manufacturing buildings. The building had cost $9,030,000 when originally purchased 8 years ago, and had been depreciated using the straight-line method with no residual value. Sunland estimated that the building had a 35 year life when purchased. Prepare the journal entry to record the sale of the building on Sunland's books, assuming 8 years of depreciation has already been recorded in the accounts the building was sold for $7,106,000 cash. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Date Account Titles and Explanation Debit Credit Sept. 15 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor tempts: 0 of 4 used SAVE FOR LATER SUBMIT ANSWER The parts of this question must be completed in order. This part will be available when you complete the part above zle question must be completed in order. This part will be available when you complete the part above.

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(a)

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Date Account titles and explanation Debit Credit Sept. 15 Cash 7,106,000 Accumulated depreciation (9,030,000 / 35) * 8 2,064,000 Building 9,030,000 Profit on sale of building (P&L) 140,000

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