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  3. need help asap! 2. bin industries purchased a

need help asap! 2. Bin Industries purchased a building in...

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Accounting

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2. Bin Industries purchased a building in 2017 for $415,000. It had an estimated useful Hfe of 30 years and a salvage value of $25,000. B 1 in uses straight-line depreciation. In early Jamuary of 2023 Ekin took advantage of the hot real estate market and sold the building for $550,000. Required: Prepare the joumal entry to record the sale, including any gain or loss that should be recognized. Show calculations for the Accumulated Depreciation balance and for the Cain or Loss amount

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