Wardell Company purchased a minicomputer on January 1, 2022, at a cost of $47,000. The computer was depreciated. using the straight-line method over an estimated five-year life with an estimated residual value of $5,000. 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 $3,800. Required: 1. Prepare the year-end journal entry for depreciation on December 31, 2024. No depreciation was recorded during the year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar. View transaction list View journal entry worksheet No Event General Journal 1 1 Depreciation expense Accumulated depreciation-computer Debit Credit Wardell Company purchased a minicomputer on January 1, 2022, at a cost of $47,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $5,000. 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 $3,800. 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. View transaction list Journal entry worksheet Record depreciation expense for 2024. Note: Enter debits before credits. Event 1 General Journal Debit Credit