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Assume that Metro Graphics paid $45,000 for equipment with a 15-year e and zero expected residual vaue Ater using the equipment for six years, the company deteemines that the asset will remain uselul for only five more years Read the requirements Requirement 1. Record depreciation expense on the equipment for year 7 by the straight-line method First, select the formda to calolate the company's revbed deprecialion expense on the equipment for year 7. Then enter the amouns and caloulate the depreciation for year 7, (Enter 0 for items with a zero value) Revised depreciation Record the depreciation on the equipment for year 7 (Record debits frst then credits Select the explanation on the last ine of the joumal entry table) Date Accounts and Explanation Debit Credit Assume that Metro Graphics paid $45,000 for equipment with a 15-year Me and zero expected residual vakue Aher uning the equipment for six years, the cempany determines that the asset will remain unehud for only fve more years Read the requirements Revised depreciation Record the depreciation on the equipment for year 7 (Record debits first, then credits Select the explanation on the last line of the jourmal entry table) Date Accounts and Explanation Debit Credit Requirement 2. What is accumulated depreciation at the end of year 77 The accumulated depreciation at the end of year 7 is