Aiken Incorporated has one plant asset. The asset's original cost was $682,500. There is a $52,500 expected residual value and the estimated useful life is 20 years. On January 1 of the current year, following 10 full years of depreciation, the company determined that the asset will be useful for only another 5 years and reduced the expected residual value to $30,500. The change in estimate is needed to reflect advanced technology used in newer equipment currently available on the market. Aiken uses the straight-line method of depreciation. Prepare the journal entry to record the change in estimate, ignoring any tax effects. (Record debits first, then credits. Exclude explanations from any journal entries.) Account Current Year