Exercise 9-17 Revising depreciation rates-change in useful life and residual value LO4 On April 3, 2020, David's Chocolates purchased a machine for $84,200. It was assumed that the machine would have a five-year life and a $16,500 trade-in value. Early in January 2023, it was determined that the machine would have a seven-year useful life and the trade-in value would be $9,300. David's Chocolates uses the straight-line method to the nearest month for calculating depreciation. Required: Record depreciation at December 31, 2023, David's Chocolates' year-end. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) View transaction list Journal entry worksheet