The December 31, 2017, adjusted trial balance of Maritime Manufacturing showed the following information: Machinery Accumulated depreciation, machinery Office furniture Accumulated depreciation, office furniture $ 480,000 204,300 94,600 52,100 Remaining useful life four years, estimated residual $80,000 Remaining useful life five years, estimated residual $11,700 Early in 2018, 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 $100,000. At the beginning of 2018, 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, 2018. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round the final answer to the nearest whole dollars.) View transaction list Journal entry worksheet C12 Record the depreciation on the machinery, for the year ended Dec 31, 2018, Note: Enter debits before credits. General Journal Debit Credit Date Dec 31, 2018 Record entry Clear entry View general journal Journal entry worksheet