ssume that Apex Communications paid $126,000 for equipment with a 14-year ife and zero expected residual value Ater using the equipment for six years. the company determines that the asset remain useful for only four more years. Requirements 1. Record depreciation on the equipment for year 7 by the straight-line method. 2. What is accumulated depreciation at the end of year 7? Record the depreciation on the equipment for year 7 Record debits first, then credts Explanations will appear on the last ne of the pumal entry table Check your spoung carelay and do not Credit Accounts and Explanation Date Requirement 2. What is accumulated depreciation at the end of year 7? me accumulated depreciation at the end of year 7is s