The December 31, 2014, adjusted trial balance of Old Maritime Manufacturing showed the following information:

Machinery........................................................................................................... $556,800

Accumulated depreciation, machinery1 ............................................................... 246,400

Office furniture ...................................................................................................... 89,600

Accumulated depreciation, office furniture 2......................................................... 49,600

1 Remaining useful life four years; estimated residual $64,000

2 Remaining useful life five years; estimated residual $11,200.

Early in 2015, the company made a decision to stop making the items produced by the machinery and buy the items instead. As a result, the remaining useful life was decreased to two years and the residual value was increased to a total of $120,000. At the beginning of 2015, it was determined that the estimated life of the office furniture should be reduced by two years and the residual value decreased by $6,400. The company calculates depreciation using the straight-line method to the nearest month.

Required

Prepare the entries to record depreciation on the machinery and office furniture for the year ended December 31, 2015 (round calculations to the nearest whole dollar).