At the beginning of 2017, the Hoffman Group purchased office equipment at a cost of $440,000. Its useful life was estimated to be 10 years with no residual value. The equipment has been depreciated by the straight-line method. On January 1, 2021, the company changed to thedouble-declining-balance method.

Record the adjusting entry necessary as a direct result of the change as well as any adjusting entry for 2021 related to the situation described. (Ignore income tax effects.)

Depreciation expense

Accumulated depreciation