very urgent

On January 2, 2020, Orange Partners paid $245,000 for vehicles with a useful life of 7 years and a residual value of $35,000. On January 2, 2022, the company determined that the vehicles would have a remaining useful life of 4 years with a residual value of $45,000. The company uses the straight-line method to the nearest whole month to calculate depreciation. The company has a December 31 year-end. REQUIRED: a. Calculate the vehicles' carrying value at December 31, 2021. (3 marks) b. Prepare the journal entry to record depreciation at December 31, 2022