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Diamond Corporation purchased office equipment for $1.8 million in year 1. The equipment is being depreciated over a 10-year life using the sum-of-the-years'-digits method. The

Diamond Corporation purchased office equipment for $1.8 million in year 1. The equipment is being depreciated over a 10-year life using the sum-of-the-years'-digits method. The residual value is expected to be $500,000. At the beginning of year 4, Diamond decided to change to the straight-line depreciation method for this equipment. Required: Prepare the year 4 depreciation adjusting entry

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