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 $73,200. It was assumed that the machine would have a five-year life and a $15.400 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 $8,200. 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