The December 31, 2014, adjusted trial balance of Old Maritime Manufacturing showed the following information:

Machinery	$	780,000
Accumulated depreciation, machinery1		384,300
Office furniture		109,600
Accumulated depreciation, office furniture2		59,600

¹Remaining useful life four years; estimated residual $50,000

²Remaining useful life five years; estimated residual $13,200.

Early in 2015, the company made a decision to stop making the items produced by the machinery and buy the items instead. As a result, the remaining useful life was decreased to two years and the residual value was increased to a total of $160,000. At the beginning of 2015, it was determined that the estimated life of the office furniture should be reduced by two years and the residual value decreased by $7,000. The company calculates depreciation using the straight-line method to the nearest month.

Required:

Prepare the entries to record depreciation on the machinery and office furniture for the year ended December 31, 2015. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.)