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Swindall Industries uses straight-line depreciation on all of its depreciable assets. The company records annual depreciation expense at the end of each calendar year . On January 11, 2017, the company purchased a machine costing $98,000. The machine's useful life was estimated to be 12 years with an estimated residual value of $19,500. Depreciation for partial years is recorded to the nearest full month In 2021, after almost five years of experience with the machine, management decided to revise its estimated life from 12 years to 20 years. No change was made in the estimated residual value. The revised estimate of the useful life was decided prior to recording annual depreciation expense for the year ended December 31, 2021. a. Prepare journal entries in chronological order for the given events, beginning with the purchase of the machinery on January 11, 2017. Show separately the recording of depreciation expense in 2017 through 2021. (Do not round intermediate calculations, Round your final answers to the nearest whole number. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) d No 1 General Journal Credit Date January 11, 2017 Machinery Cash Debit 98,000 38.000 2 6,542 December 31, 201 Depreciation expense: machinery Accumulated depreciation machinery 6,542 3 6,542 December 31, 201 Depreciation expenser machinery Accumulated depreciation machinery 6.542 4 6,542 December 31, 201 Depreciation expense machinery Accumulated depreciation machinery 6.542 6 4,490 X December 31, 202 Depreciation expense: machinery Accumulated depreciation: machinery >> 4,490