QUESTION 5 1 points Save Answer Assume that an asset was bought at a cost of $50,000. It is expected that the asset will have zero residual value and a useful life of 10 years with the straight-line depreciation method being used. At the beginning of year 5, the total useful life is re-estimated downward to 8 years. The company adopted cost model for accounting for this asset class. What are the journal entries required to record depreciation expense for the final years of useful life of the asset? No narration required. Your answer should not exceed 6 lines in the below provided answer box. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I U Paragraph Open Sans, sa... 10pt : IX o Q = = = = x2 X2 g & T T > T v T 15 8 {:} @ V