Problem 11-11 (Static) Error correction; change In depreclation method [LO11-2, 11-6, 11-7] Collins Corporation purchased office equlpment at the beginning of 2019 and capitalized a cost of $2,000,000. Thls cost figure Included the following expenditures: The company estimated an elght-year useful Ife for the equipment. No residual value is anticlpated. The double-declining-balance method was used to determine depreclatlon expense for 2019 and 2020. In 2021, after the 2020 financlal statements were issued, the company decided to switch to the straight-Ine depreclation method fo this equipment. At that time, the company's controller dlscovered that the original cost of the equipment Incorrectly included one ye of annual maintenance charges for the equlpment. Required: 1. Ignoring Income taxes, prepare the approprlate correcting entry for the equipment capitalization error dlscovered in 2021. 2 lgnoring Income taxes, prepare any 2021 journal entry(s) related to the change In depreclation methods. Complete this question by entering your answers in the tabs below. Ignoring income taxes, prepare the appropriate correcting entry for the equipment capitalization error discovered in 2021 . (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the correcting entry for the equipment capitalization error discovered in 2021 Note: Enter debits before cred ts. Complete this question by entering your answers in the tabs below. Ignoring income taxes, prepare any 2021 joumal entry(s) related to the change in depreciation methods. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the entry related to the change in depreciation method. Note: Enter debits before cred ts. Complete this question by entering your answers in the tabs below. Ignoring income taxes, prepare any 2021 joumal entry(s) related to the change in depreciation methods. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Note: Enter debits before credits