On January 1, 2018, Indigo Corporation purchased a building to use as its factory, and some equipment to manufacture its product. The following information was assumed at the time of purchase: Building Equipment Cost $7,100,000 $554,000 Useful Life 25 years 15 years Residual Value $100,000 $11,000 The building was depreciated using the double-declining balance method, and the equipment was depreciated using the straight-line method. On January 1, 2022, Indigo decided to change the depreciation method for the building to the straight-line method, as a result of a change in the pattern of benefits received. Indigo also decided that the equipment would have a total useful life of only 8 years, with a residual value of only $3,400. Prepare the journal entries to record depreciation for both assets for 2022 ignore income taxes. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Account Titles and Explanation Debit Credit Account Titles and Explanation Debit Credit (To record depreciation expense for buildings.) (To record depreciation expense for equipment.)