Recording Entry for a Change in Estimate

Exon Company purchased equipment for $$60,000$ on January $1$ of Year $1.$ The equipment has an estimated residual value of $$1,800$ and an estimated useful life of $8$ years. The company depreciates the equipmer using the straight$-$line method. On January $1$ of Year $4,$ the company determines that the total useful life is $6$ years. and the estimated residual value is $$600.$

Required

Prepare the entry to record depreciation expense for Year $4.$

$\backslash$table$[[$Date$,$Account Name,,,Dr$.,$Cr$.],[$Dec$.31,$ Year $4,$Depreciation Expense,hat$(AA),,7,275,0$