Machinery purchased for $$60,000$ by Tom Brady Co$.$ in $2021$ was originally estimated to have a life of $8$ years with a salvage value of

$$4,000$ at the end of that time. Depreciation has been entered for $5$ years on this basis. In $2026,$ it is determined that the total

estimated life should be $10$ years with a salvage value of $$4,500$ at the end of that time. Assume straight$-$line depreciation.

$($b$).$

Prepare the entry to record depreciation for $2026.($If no entry is required, select $"$No entry" for the account titles and enter $0$ for the

amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Use Machinery related

account. List debit entry before credit entry.$)$

Account Titles and Explanation

Debit

Credit