Zcom Inc. purchased a piece of machinery costing $$120,000$ on March $4,2021$ under the assumption it would have a $10-$year life and a $$50,000$ residual value. On January $10,2025,$ a computerized panel was installed at a cost of $$23,000.$ The useful life of the computerized panel was estimated to be $3$ years with a $$5,000$ residual value. The installation of the computerized panel did not change the useful life or residual value of the machinery. Assume a year end of December $31.$ Prepare the entry to record total depreciation on the machinery at December $31,2025.$ For simplicity, assume that the machinery is depreciated as one unit; it will not be broken down into its parts and depreciated.

Chart of Accounts

Depreciation Expense, Machinery

Accumulated Depreciation, Machinery

General Journal

Page GJ$1$

Date

Account$/$Explanation

F

Debit

Credit

To record revised straight$-$line depreciation for machinery to include depreciation for addition to machinery.