t for year 8 by the straight-line method. eciati * Requirements bn for year 8. (Ente 1. Record depreciation expense on the equipment for year 8 by the straight-line method. 2. What is accumulated depreciation at the end of year 8? ebits Print Done s and then continue to the next question. Question Help Assume that Micron Precision paid $162,000 for equipment with a 18-year life and zero expected residual value. After using the equipment for seven years, the company determines that the asset will remain useful for only five more years. Read the fequirements Requirement 1. Record depreciation expense on the equipment for year 8 by the straight-line method. First, select the formula to calculate the company's revised depreciation expense on the equipment for year 8. Then enter the amounts and calculate the depreciation for year 8. (Enter "0" for items with a zero value.) Revised 17 depreciation Record the depreciation on the equipment for year 8. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. Save for Later years. Read the fequirements depreciation ( Record the depreciation on the equipment for year 8. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Debit Credit Date Accounts and Explanation Requirement 2. What is accumulated depreciation at the end of year 8? The accumulated depreciation at the end of year 8 is $ Choose from any list or enter any number in the input fields and then continue to the next question. Save for later