On Jan 1st 2021, Murasaki Inc. purchased a printing press for $350,000 cash. The printing press is estimated to have a 5 year useful life and $110,000 residual value. Murasaki Inc. uses the SYD method of depreciation for this printing press. Assuming that Murasaki Inc. prepares financial statements once very year on Dec 31st: Provide the journal entries associated with depreciation for this printing press that Murasaki Inc recognizes on Dec 31st 2021? (4 points) On Jan 1st 2023, Murasaki Inc. switches from SYD to straight-line depreciation for this printing press. Murasaki expects to use this printing press until Dec 31st 2024 and the new estimation of residual value for the machine is $50,000. Provide the journal entries associated with the depreciation of this printing press on Dec 31st 2023. (6 points