Pearl Enterprises Ltd, purchased machinery on January 1, 2015. The machinery cost $322,000, and was estimated to have a ten- year useful life and a residual value of $47.000. Straight-line depreciation was recorded each year-end (December 31) to the end on December 31, 2019. On January 1, 2020, Pearl re-evaluated the machinery. It was now believed that the equipment's total life was expected to be 15 years Prepare the journal entry to record depreciation for 2020. (Credit account titles are automatically indented when amount is entered. Do riot indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.)