Sunland Enterprises Ltd. purchased machinery on September 1, 2017. The machinery cost $347.100, and was estimated to have a 10- year useful life and a residual value of $47.100. Straight-line depreciation was recorded each year-end (December 31) to the end of December 31, 2021. On January 1, 2022, Sunland re-evaluated the machinery. It was now believed that the equipment could be resold for $12,200 on December 31, 2024. Prepare the journal entry to record depreciation for 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Dec 31 Debit Credit