The December 31, 2020, adjusted trial balance of Maritime Manufacturing showed the following information:

Single Machinery$620,000Accumulated depreciation, machinery¹288,300Office furniture101,600Accumulated depreciation, office furniture²55,600

¹Remaining useful life four years; estimated residual $90,000

²Remaining useful life five years; estimated residual $12,400

Early in 2021, 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 $120,000. At the beginning of 2021, it was determined that the estimated life of the office furniture should be reduced by two years and the residual value decreased by $9,000. 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, 2021.(Round the final answer to the nearest whole dollar.)