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Fast Trax Amusement Park paid $320,000 for a concession stand. Fast Trax started out ...

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Accounting

Fast Trax Amusement Park paid $320,000 for a concession stand. Fast Trax started out
depreciating the building using the straight-line method over 20 years with a residual value of
zero. After using the concession stand for six years, Fast Trax determines that the building will
remain useful for only four more years. Record Fast Trax's depreciation on the concession stand
for year seven using the straight-line method. (Record debits first, then credits. Exclude
explanations from any journal entries.)
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