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Wardell Company purchased a minicomputer on January 1 , 2 0 2 2 , at a cost of $ 5 7 , 0 0 0

Wardell Company purchased a minicomputer on January 1,2022, at a cost of $57,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $6,000. On January 1,2024, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $1,200.
Exercise 11-23(Algo) Part 2
2. Prepare the year-end journal entry for depreciation on December 31,2024. Assume that the company uses the double-declining-balance method instead of the straight-line method.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.

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