Assume that Brown's Salvage Company paid $32,000 for equipment with a 16-year life and zero expected residual value. After using the equipment for six years, the company determines that these wil remain useful for only five Read the coquirements Requirement 1. Record depreciation expense on the equipment for your by the straight-line method. First, select the formula to calculate the company's revised depreciation expense on the equipment for year 7. Then enter the amounts and calculate the depreciation for your 7. Enter for home with a zoroval ) Record the depreciation on the equipment for year 7 Record debts the credits Select the explanation on the last line of the journal entry late) Date Accounts and Explanation 0 Requirements 1. Record depreciation expense on the equipment for your by the strangheine method 2. What is accumulated depreciation at the end of year? Print Dono Requirement 2. What is accumulated depreciation at the end of year 7? The accumulated depreciation at the end of year 7 is $