The Collins Corporation purchased office equipment at the beginning of 2016 and capitalized a cost of $2,210,00o. This cost included the following expenditures: Purchase price Freight charges Installation charges Annual maintenance charge $1,990,000 44,000 34,000 142,000 $2,210,000 Total The company estimated an eight-year useful life for the equipment. No residual value is anticipated. The double-declining-balance method was used to determine depreciation expense for 2016 and 2017. In 2018, after the 2017 financial statements were issued, the company decided to switch to the straight-line depreciation method for this equipment. At that time, the company's controller discovered that the original cost of the equipment incorrectly included one year of annual maintenance charges for the equipment Required: 1 & 2. Ignoring income taxes, prepare the appropriate correcting entry for the equipment capitalization error discovered in 2018 and any 2018 journal entry(s) related to the change in depreciation methods. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1 Record the entry to correct incorrect accounts 2 Record entry in 2018 due to the change in depreciation methods 3 Record the 2018 adjusting entry for depreciation