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Debit and Credit are wrong. Required information Exercise 11-23 (Static)...

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Accounting

Debit and Credit are wrong.
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Required information Exercise 11-23 (Static) Change in estimate; useful life and residual value of equipment (LO11-2, 11-5) [The following information applies to the questions displayed below) Wardell Company purchased a mainframe on January 1, 2019, at a cost of $40,000. The computer was depreciated using the straight line method over an estimated five-year life with an estimated residual value of $4.000. 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 $900. Exercise 11-23 (Static) Part 1 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 answers to nearest whole dollar.) View transaction list View Journal entry worksheet No Event 1 Credit 1 General Journal Depreciation expense Accumulated depreciation--computer Debit 3.889 3,880

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