Example 21.2 Change in accounting estimate Similar to homework E21.13 E21.12 On January 1, 2018, Jackson Company purchased a building and equipment that have the following useful lives, salvage values, and costs. Building, 40-year estimated useful life, $50,000 salvage value, $800,000 cost Equipment, 12-year estimated useful life, $10,000 salvage value, $100,000 cost The building has been depreciated under the double-declining-balance method through 2021. In 2022, the company decided to switch to the straight-line method of depreciation. Jackson also decided to change the total useful life of the equipment to 9 years, with a salvage value of $5,000 at the end of that time. The equipment is depreciated using the straight-line method. a) Prepare the journal entry(ies) necessary to record the depreciation expense on the building in 2022. a) Prepare the journal entry(ies) necessary to record the depreciation expense on the equipment in 2022