18 Exercise 11-23 (Static) Change in estimate; useful life and residual value of equipment (L011-2, 11-5) [The following information applies to the questions displayed below) Wardell Company purchased a mainframe on January 1, 2019, at a cost of $40,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $4,000. On January 1, 2021, the estimate of useful ife was changed to a total of 10 years, and the estimate of residual value was changed to $900. Part 2 of 2 1 Exercise 11-23 (Static) Part 2 2. Prepare the year end journal entry for depreciation in 2021. Assume that the company uses the sum-of-the-years-digits method Instead of the straight-line method. Of no entry is required for a transaction/event, select "No journal entry required in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.) View transaction ist Journal entry worksheet 1 Record depreciation expense for 2021