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Machinery purchased for $47,800 by Bramble Corp. on January 1,2018, was originally estimated to have an 8 -year useful life with a residual value of $3,000. Depreciation has been entered for five years on this basis. In 2023 , it is determined that the total estimated useful life (including 2023) should have been 10 years, with a residual value of $3,600 at the end of that time. Assume straight-line depreciation and that Bramble uses IFRS for financial statement purposes. (a) Your answer is correct. Prepare the entry that is required to correct the prior years' depreciation, if any. (Credit occount tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select 'No Entry' for the account titles and enter O for the amounts. List debit entry before credit entry) Prepare the entry to record depreciation for 2023. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Prepare the entry to record depreciation for 2023. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Repeat part (b) assuming Bramble uses the double-declining-balance method of depreciation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry. Round answers to 0 decimal places, e.g. 5, 275.)

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