Brief Exercise 20-4 (Algo) Change in depreciation methods [LO 20-3) Irwin, Inc. constructed a machine at a total cost of $46 million. Construction was completed at the end of 2017 and the machine was placed in service at the beginning of 2018. The machine was being depreciated over a 10-year life using the sum-of-the-years'-digits method. The residual value is expected to be $2 million. At the beginning of 2021, Irwin decided to change to the straight-line method. Ignoring income taxes, prepare the journal entry relating to the machine for 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet 1 Record the entry relating to the machine for 2021. Note: Enter debits before credits. Event General Journal Debit Credit 1 Brief Exercise 20-7 (Algo) Warranty expense (LO20-4] In 2020, Quapau Products introduced a new line of hot water heaters that carry a one-year warranty against manufacturer's defects. Based on industry experience, warranty costs were expected to approximate 5% of sales revenue. First-year sales of the heaters were $200,000. An evaluation of the company's claims experience in late 2021 indicated that actual claims were less than expected-4% of sales rather than 5%. Assuming sales of the heaters in 2021 were $250,000 and warranty expenditures in 2021 totaled $8,000, what is the 2021 warranty expense? Warranty expense