Assume that Smith's Auto Sales paid $45,000 for equipment with a 15-year life and zero expected residual value. Aher using the equipment for six years, the company determines that only five more years. Read the requirements Record the depreciation on the equipment for Year 7. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit the end of Year 72 Requirement 2. What is accumulated dopreciation The accumulated depreciation at the end of Year 7 Choose from any list or enter any number in the input fields and then continue to the next question Type here to search 11 Requirements 1. Record depreciation expense on the equipment for Year 7 by the straight-line method. 2. What is accumulated depreciation at the end of Year 7? Print Done e end of Year 12 put fields and then continue to the next