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

Single 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 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 $160,000. 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 $7,000. The company calculates depreciation using the straight-line method to the nearest month.

Single Machinery Accumulated depreciation, machinery Office furniture Accumulated depreciation office Furniture $780, 384,380 189,600 59,680 'Remaining useful life four years: estimated residual $50.000 Remaining useful life five years: estimated residual $13.200 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 $160,000. 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 $7,000. The company calculates depreciation using the stralght-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.) View transaction lat 1 Record the depreciation on the machinery, for the year ended Dec 31, 2021. 2 Record the depreciation on the office furniture for the year ended Dec 31, 2021. Credit