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Recording Depreciation with a Change in Depreciation Method Pier Exports purchases equipment on January 1,...

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Recording Depreciation with a Change in Depreciation Method Pier Exports purchases equipment on January 1, 2018, at a cost of $105,000. The company estimates that there will be no salvage value and that the equipment will have a useful life of 10 years. The company elects to use the double-declining balance method until 2021 at which time the company changes to the straight-line method of depreciation for the equipment. Required Prepare the depreciation entry for 2021. Note: Round your final answer to the nearest whole number. Date Account Name 31,500 X 0 Depreciation Expense Dec 31, 2021 Accumulated Depreciation OX Check

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