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Current Atter gress

Blossom Enterprises Ltd$.$ purchased machinery on September $1,2020.$ The machinery cost $$342,300,$ and was estimated tc year useful life and a residual value of $$42,300.$ Straight$-$line depreciation was recorded each year$-$end $($December $31)$ to December $31,2024.$ On January $1,2025,$ Blossom re$-$evaluated the machinery. It was now believed that the equipmentc resold for $$18,200$ on December $31,2027.$

Prepare the journal entry to record depreciation for $2025.($Credit account titles are automatically indented when the am not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List debit ent entry.$)$

Date Account Titles and Explanation

Dec. $31$

Depreciation Expense