Monty Company purchased a computer system for $$75,900$ on January $1,2019.$ It was depreciated based on a $8-$year life and an $$16,300$ salvage value. On January $1,2021,$ Monty revised these estimates to a total useful life of $4$ years and a salvage value of $$11,000.$ Monty uses straight$-$line depreciation.

Prepare Monty's entry to record $2021$ depreciation expense. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit