19. On January 1, 2012, Space Ghost Co. purchased a machine for $1,320,000 and depreciated it by the straight-line method using an estimated useful life of eight years with no salvage value. On January 1, 2015, Space Ghost determined that the machine had a useful life of six years from the date of acquisition and will have a salvage value of $120,000. An accounting change was made in 2015 to reflect these additional data. The accumulated depreciation for this machine should have a balance at December 31,2015 of a. $912,500 b. $730,000. c. $800,000. d. $880,000. Companies must make correcting entries for noncounterbalancing errors, even if they have closed the prior year's books. a. True. 20. b. False