Question: I need help with doing the journal entries on this question please The December 31, 2020, adjusted trial balance of Maritime Manufacturing showed the following

I need help with doing the journal entries on this question please

I need help with doing the journal entries on this question please

The December 31, 2020, adjusted trial balance of Maritime Manufacturing showed the following information: Single Machinery $620, 808 Accumulated depreciation, machinery 288, 308 Office furniture 101, 608 Accumulated depreciation, office furniture 55, 608 Remaining useful life four years; estimated residual $90,000 2Remaining useful life five years; estimated residual $12,400 Early in 2021. 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 2021, it was determined that the estimated life of the office furniture should be reduced by two years and the residual value decreased by $9.000. 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, 2021. (Round the final answer to the nearest whole dollar.) View transaction list Journal entry worksheet 2 Record the depreciation on the machinery, for the year ended Dec. 31, 2021. Note: Enter debits before credits. Date General Journal Debit Credit Dec. 31. 2021 Record entry Clear entry View general journal

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