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Required informotion Exercise 11-23 (Algo) Change in estimate; useful life and residual value of equipment...

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Required informotion Exercise 11-23 (Algo) 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 minicomputer on January 1, 2022, at a cost of $49.000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $7,000. 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 $400. Exercise 11-23 (Algo) Port 1 Required: 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 transoction/event, select "No journal entry required" in the first occount field. Round your final inswers to neorest whole dollar

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