On January 1, Year 1, WSM Co. purchased office furniture at a cost of $90,000. Book depreciation was calculated using the double-declining balance method over an estimated useful life of 10 years for the first three years after purchase, and accumulated depreciation at December 31, Year 3, was $43,920. At the end of Year 3, the estimated useful life of the machinery was changed from 10 to 15 years, effective January 1, Year 4, and the depreciation method was changed to the straight-line method with no salvage value.

Prepare the entry, if any, required to record WSM's change in depreciation method from the double-declining balance method to the straight-line method, and the change in the estimated useful life of the furniture.

Account name	Debit	Credit
Accounts payable Accumulated depreciation Additional paid-in capital Depreciation expense Machinery Miscellaneous expense Other income Retained earnings No entry required
Accounts payable Accumulated depreciation Additional paid-in capital Depreciation expense Machinery Miscellaneous expense Other income Retained earnings No entry required

Prepare the entry, if any, required to record WSM's depreciation expense for Year 4.

Account Name	Debit	Credit
Accounts payable Accumulated depreciation Additional paid-in capital Depreciation expense Machinery Miscellaneous expense Other income Retained earnings No entry required
Accounts payable Accumulated depreciation Additional paid-in capital Depreciation expense Machinery Miscellaneous expense Other income Retained earnings No entry required