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Krazy Kelli's Furniture Warehouse purchased a delivery van for $40,000 (estimated useful life - 10 years & salvage value - $0.) Krazy Kelli's Furniture Warehouse

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Krazy Kelli's Furniture Warehouse purchased a delivery van for $40,000 (estimated useful life - 10 years & salvage value - $0.) Krazy Kelli's Furniture Warehouse recorded depreciation on the delivery van for 6 years using the straight line method. At the beginning of year 7 Krazy Kelli's Furniture Warehouse decides that the estimated life of the delivery van should be revised to 14 years. Record the journal entry for depreciation in year 7. Show your work

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