Exercise $20-17($Static$)$ Change in estimate; useful life and residual value of equipment $[$LO$20-4]$

Wardell Company purchased a mini computer on January $1,2022,$ at a cost of $$40,000.$ The computer has been depreciated using the straight$-$line method$-$over an estimated five$-$year useful life with an estimated residual value of $$4,000.$ 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 $$900.$

Required:

Prepare the appropriate adjusting entry for depreciation in $2024$ to reflect the revised estimate.

Prepare the appropriate adjusting entry for depreciation in $2024$ to reflect the revised estimate, assuming that the company uses the sum$-$of$-$the$-$years'$-$digits method instead of the straight$-$line method.