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The following information applies to the questions displayed below. Wardell Company purchased a minicomputer on...

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Accounting

The following information applies to the questions displayed below. Wardell Company purchased a minicomputer on January 1,2022, at a cost of $48,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $3,000. 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. 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 .

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