The equipment purchased for $26,000 in chapter 2 has a uselul lite of 5 years, and we expect that it will be worth $8,000 when we are done with it, Record depreciation. Account Name Debit Credit The equipment purchased for $26,000 in chapter 2 has a uselul lite of 5 years, and we expect that it will be worth $8,000 when we are done with it, Record depreciation. Account Name Debit Credit