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 2019. At the beginning of 2021, Colorado Consulting decided to change to the straight-line method. The equipment cost $118,500 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 under GAAP. 2. Prepare the journal entry to record depreciation for 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the appropriate journal entry, if any, to record the accounting change under GAAP. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Event General Journal 1 1 No journal entry required Debit Credit View transaction list Journal entry worksheet 1 Record the depreciation for 2021. Note: Enter debits before credits. Date December 31, 2021 General Journal Debit Credit Record entry Clear entry View general journal