ERMEDIATE ACCOUNTING 1 & (310/311/312) Assignment Gradebook ORION Downloadable eTextbook | CALCULATOR FULL SCREEN PRINTER VERSION Question 18 in January 2017, installation costs of $6,700 on new machinery were charged to Maintenance and Repairs Expense. Other costs of this machinery of $33,500 were correcty recorded and have been depreciated using the straight-line method with an estimated life of 10 years and no salvage value. At December 31, 2018, It is decided that the machinery has a remaining useful life of 20 years, starting with January 1, 2018. What entries should be made in 2018 to correctly record transactions related to machinery assuming the machinery has no salvage value? The books have not been closed for 2018 and depreciation expense has not yet been recorded for 2018. (Credit account titles are automatically idented when the amount is entered. Do not ident manually. rno entry ls required, select-No entry-for the a co unt eeles and enter 0 for the amounts.) Date Account Titles and Explanation Dec. 31 DebitCredit (To correct for the error of expensing installation costs on machinery acquired in January, 2017 (To record depreciation on machinery for 2018 based on a 20-year useful life) Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT 4 option