Required information Exercise 20-17 (Algo) Change in estimate; useful life and residual value of equipment (LO20-4) [The following information applies to the questions displayed below.] Wardell Company purchased a mini computer on January 1, 2019, at a cost of $47,650. The computer has been depreciated using the straight-line method over an estimated five-year useful life with an estimated residual value of $4,900. On January 1, 2021, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $870. Exercise 20-17 (Algo) Part 1 Required: 1. Prepare the appropriate adjusting entry for depreciation in 2021 to reflect the revised estimate. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the depreciation. Required information Exercise 20-17 (Algo) Change in estimate; useful life and residual value of equipment (LO20-4) [The following information applies to the questions displayed below.) Wardell Company purchased a mini computer on January 1, 2019, at a cost of $47,650. The computer has been depreciated using the straight-line method over an estimated five-year useful life with an estimated residual value of $4,900. On January 1, 2021, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $870. Exercise 20-17 (Algo) Part 2 2. Prepare the appropriate adjusting entry for depreciation in 2021 to reflect the revised estimate, assuming that the company uses the sum-of-the-years'-digits method instead of the straight-line method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations and round your final answers to nearest whole dollar.) View transaction list Journal entry worksheet 1 Record the depreciation