On January 1^st 2014, Nook Inc. purchased a box-making machine for $300,000. They estimate that the machine has a service life of 7 years, and that the residual value of the machine at the end of its service life is $100,000. Nook Inc uses the SYD method of depreciation for this machine.

On Jan 1st 2018, Nook Inc revises the estimated service life of the machine to 9 years, and reduces the estimated residual value to $50,000. Nook Inc also changes the depreciation method to straight-line depreciation.

Provide the journal entries for Jan 1^st 2014, when the service life and residual values of the machine is updated.

Provide the journal entries on Dec 31^st 2018 for the recognition of depreciation expense for 2018.