On January 1, Comer Hot Dogs purchased a hot dog stand for $56,000, it has an estimated useful life of 14 years and no residual value. Suppose that after using the hot dog stand for six years and straight-line depreciation, the company determines that the stand will remain useful for only five more years. Record Comer Hot Dogs' depreciation expense on the hot dog stand for year 7 using the straight-line method. (Record debits first, then credits Exclude explanations from any journal entries.) CELED Journal Entry Date Accounts Debit Credit 4