Recording a Change in Accounting Estimate Epsom Company purchased a machine that cost $100,000 on January 1, eight years ago. The estimated useful life was 12 years, and the estimated re adjusting entry to record depreciation expense for that year, the company decided that the machine should be depreciated over a 15 -year total usef a. Prepare the adjusting entry at December 31 of the current year for annual depreciation expense. Round the answers to the nearest dollar. b. Prepare the correcting entry required, if any, at December 31 of the current year, If none is required, provide the reason. If no correcting entry was required, select the reason. If a correcting entru was ranuirad mann "N/A" as your answer. 2. The estimated useful life was 12 years, and the estimated residual value was $0. Straight-line depreciation is used. At the start of the current year, before making any the machine should be depreciated over a 15-year total useful life. on expense: none is required, provide the reason