Ski Lodge Inc.purchased a building for $20 million.The building is depreciated using the straight-line method over 20 years and has no residual value.At the end of year 16,Ski Lodge Inc.sold the building for $5 million in cash.Depreciation had been updated to the point in time of the sale.Show the accounting equation effects from this transaction.Also,write down the journal entry from the disposal.

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The Answer of Ski Lodge Inc.purchased a building for $20 million.The building is depreciated using the straight-line method over 20 years and has no residual value.At the end of year 16,Ski Lodge Inc.sold the building for $5 million in cash.Depreciation had been updated to the point in time of the sale.Show the accounting equation effects from this transaction.Also,write down the journal entry from the disposal.