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Recording Entry for a Change in Estimate

Exon Company purchased equipment for $$140,000$ on January $1$ of Year $1.$ The equipment has an estimated residual value of $$4,200$ and an estimated useful life of $8$ years. The company depreciates the equipment using the straightline method. On January $1$ of Year $4,$ the company determines that the total useful life is $6$ years and the estimated residual value is $$1,400.$

Required

Prepare the entry to record depreciation expense for Year $4.$

$\backslash$table$[[$Date$,$Account Name,Dr$.,$Cr$.],[$Dec$.31,$ Year $4,*{*}^{},0,0],[,*{*}^{},0,0]]$