s Kieso, Intermediate Accounting, IFRS, 2e WileyPLUS: MWESI Hals i les INTERMEDIATE ACCOUNTING (201) actice Assignment Gradebook Downloadable eTextbook niment FULL SCREEN PRINTER VERSION BACK NEXT Exercise 22-11 Thurber Co. purchased equipment for $710,000 which was estimated to have a useful life of 10 years with a residual value of $10,000 at the end of that time. Depreciation has been entered for 7 years on a straight-line basis. In 2015, it is determined that the total estimated life should be 15 years with a residual value of $4,000 at the end of that time. Prepare the entry (if any) to correct the prior years' depreciation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round answers to decimal places, e 9. 5,275.) Account Tities and Explanation Debit Credit Prepare the entry to record depreciation for 2015. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts. Round answers to o decimal places, e.g. 5,275.) Debit Credit Date Account Titles and Explanation 2015