Novak Cole Inc. acquired the following assets in January of $2018.$

Equipment, estimated service life, $5$ years; salvage value, $$13,700,$$$523,700$

Building, estimated service life, $30$ years; no salvage value

$$678,000$

The equipment has been depreciated using the sum$-$of$-$the$-$years'$-$digits method for the first $3$ years for financial reporting purposes. In $2021,$ the company decided to change the method of computing depreciation to the straight$-$line method for the equipment, but no change was made in the estimated service life or salvage value. It was also decided to change the total estimated service life of the building from $30$ years to $40$ years, with no change in the estimated salvage value. The building is depreciated on the straight$-$line method.

$($a$)$ Prepare the general journal entry to record depreciation expense for the equipment in $2021.$

$($b$)$ Prepare the journal entry to record depreciation expense for the building in $2021.$

$($Round answers to $0$ decimal places, eg$.125.$ 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.$)$

No$.$ Account Titles and Explanation

Debit

Credit

$($a$)$

$($b$)$

$$