$150,000. The pe used in manufacturing. The purchase was made at the beginning of of 10 years. At the beginning of 2022, POR than 10, and that the residual value will be concluded that the total useful life of the equipment will be 8 years rather financial statements annually as of December 31 . Required: A. Prepare the journal entry to record depreciation on the equipment for 2021 (as of 12/31/21). B. Prepare the journal entry to record depreciation on the equipment for 2022 (as of 12/31/22 ), including the effect of the changes in estimates