Part B (8 points). Illini Company purchased a piece of machinery for $30,000 on January 1, 2020, and has been depreciating the machine using the sum-of-the-years'-digits method based on a five-year estimated useful life and no salvage value. On January 1, 2022, Illini decided to switch to the straight-line method of depreciation. The salvage value is still zero and the estimated useful life is changed to a total of six years from the date of purchase. Ignore income taxes. 3. Prepare any 2022 journal entry related to the accounting change. Estimate-Prospectivley

Part B ( 8 points). Illini Company purchased a piece of machinery for $30,000 on January 1 , 2020 , and has been depreciating the machine using the sum-of-the-years'-digits method based on a five-year estimated useful life.and no salvage value. On January 1,2022, Illini decided to switeh to the straight-line method of depreciation. The salvage value is still zero and the estimated useful life is changed to a total of six years from the date of purchase. Ignore income taxes. 3. Prepare any 2022 journal entry related to the accounting change. Estimate = Prospectivley