Accounting for Long Dved a A. Revision of Depreciation On January 2, 2012, Mosler, Inc., purchased equipment for s 2, 2012, Mosler, Inc., purchased equipment for $85,000,Th ar useful life equipment was expected to have a $10,000 salvage value at the end of its estimated six-ye Straight-line depreciation has been recorded. Before adjusting the accounts for 2016, M the useful life of the equipment should be extended by three years and the salvage value decreased a. Prepare a journal entry to record depreciation expense on the equipment for 2016. b. What is the book value of the equipment at the end of 2016 (after recording the depreciatio to $000 8 expense for 2016)? Comnanv nurchased eauipment for $325.000: the e