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Wardell Company purchased a mainframe on January 1, 2019, at a cost of $56,000. The computer was depreciated using the straight-line method over an estimated

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Wardell Company purchased a mainframe on January 1, 2019, at a cost of $56,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $8,000. On January 1,2021 , the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $2,000. Required: 1. Prepare the year-end journal entry for depreciation in 2021. No depreciation was recorded during the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answer to nearest whole dollar.) Journal entry worksheet Note: Enter debits before credits

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