Exercise $11-23($Algo$)$ Change in estimate; useful life and residual value of equipment $[$LO$11-2,11-5]$

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Wardell Company purchased a mainframe on January $1,2019,$ at a cost of $$47,000.$ The computer was depreciated using the straight$-$line method over an estimated five$-$year life with an estimated residual value of $$5,000.$ On January $1,2021,$ the estimate of useful life was changed to a total of $10$ years, and the estimate of residual value was changed to $$3,800.$

Exercise $11-23($Algo$)$ Part $1$

Required:

$1.$ Prepare the year$-$end journal entry for depreciation in $2021.$ No depreciation was recorded during the year. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Round your final answer to nearest whole dollar.$)2.$ Prepare the year$-$end journal entry for depreciation in $2021.$ Assume that the company uses the sum$-$of$-$the$-$years' $-$digits method instead of the straight$-$line method. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.$)$