Colorado Consulting Company has been using the sum-of-the-years'-digits depreciation method to depreciate some office equipment that was acquired at the beginning of 2022. At the beginning of 2024, Colorado Consulting decided to change to the straight-line method. The equipment cost $127,500 and is expected to have no salvage value. The estimated useful life of the equipment is five years. Ignore income taxes. Required: 1. Prepare the appropriate journal entry, if any, to record the accounting change. 2. Prepare the journal entry to record depreciation for 2024 . Complete this question by entering your answers in the tabs below. Prepare the appropriate journal entry, if any, to record the accounting change. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Note: tnter aedits petore creaits. Colorado Consulting Company has been using the sum-of-the-years'-digits depreciation method to depreciate some office equipment that was acquired at the beginning of 2022. At the beginning of 2024, Colorado Consulting decided to change to the straight-line method. The equipment cost $127,500 and is expected to have no salvage value. The estimated useful life of the equipment is five years. Ignore income taxes. Required: 1. Prepare the appropriate journal entry, if any, to record the accounting change. 2. Prepare the journal entry to record depreciation for 2024 . Complete this question by entering your answers in the tabs below. Prepare the appropriate journal entry, if any, to record the accounting change. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Note: tnter aedits petore creaits