Machinery parchased for $60,600 by Crane Co, in 2016 was originally estimated to have a life of 8 years with a salvage value of $4,040 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2021, it is determined that the total estimated life should be 10 years witha salvage value of $4,545 at the end of that time. Assume straight-line depreciation. Prepare the entry to correct the prior years' depreciation, if necessary. (If no entry is required, select "No entry" far the account tities and enter 0 for the amounts. Credit occount tilles are automatically indented when amount is entered, Do not indent manuolly, Prepare the entry to record depreciation for 2021. of no entry bs required, select "No entry" far the account itiles and enter Of for the amounts Credit occount titles are outamatically indented when amount is entered. Do not indent monially: (he Mochinery related account