An asset cost $190,000; it is being depreciated, straight-line, $30,000 residual value, over 10 years.A the start of Year 7, it was decided that the residual value should be $14,000.Give the entries required on the following dates (if none explain why):
January 1, Year 7:
December 31, Year 7:

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The Answer of An asset cost $190,000; it is being depreciated, straight-line, $30,000 residual value, over 10 years.A the start of Year 7, it was decided that the residual value should be $14,000.Give the entries required on the following dates (if none explain why):
January 1, Year 7:
December 31, Year 7:

An Asset Cost $190,000; It Is Being Depreciated, Straight-Line, $30,000