Wiater Company operates a small manufacturing facility. On January 1, 2015, an asset account for the company showed the following balances: $335,000 Accumulated Depreciabon 210,000 beginning of year) During the first week of January 2015, the following expenditures were incurred for repairs and maintenance: Routine maintenance and repairs on the s 3.250 equipment Major overhaul of the equipment that 0 38,000 improved efficiency The equipment is being depreciated on a straight-ine basis over an estimated life of 15 years with a $20,000 estimated residual value. The annual accounting period ends on December 31. Required: 1. Prepare the adjusting journal entry that would have been made at the end of 2014 for depreciation on the manufacturing equipment. (Do not round intermediate calculations. If no entry is required for a transactionlevent, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Recoren the adiusting entry for depreciation expense at year-end 201 Note: Enter debits before credits Record entry View general journal Clear entry 2. Starting at the beginning of 2015, what is the remaining estimated life? years