SheridanEnterprises Ltd. purchased machinery on September 1, 2017. The machinery cost $335,000, and was estimated to have a10-yearuseful life and a residual value of $35,000. Straight-line depreciation was recorded each year-end (December 31) to the end of December 31, 2021. On January 1, 2022,Sheridanre-evaluated the machinery. It was now believed that the equipment could be resold for $16,900on December 31, 2024. Prepare the journal entry to record depreciation for 2022.