Question: I need only prepare the entry to record depreciation for 2 0 2 6 Machinery purchased for 3691m by Vaughn co. in 2021 was originally

I need only prepare the entry to record depreciation for 2026
Machinery purchased for 3691m by Vaughn co. in 2021 was originally estimated

Machinery purchased for 3691m by Vaughn co. in 2021 was originally estimated to have a life Of 8 years With a salvage value of 34.600 at the end of that time. Depreciation has been entered for 5 years on this In 2026. it is determined that the total estimated life should be 10 years With a salvage value of $5,175 at the end of that timc_ Assume straightline depreciation. prepare the entry tocorrect theprioryears depreciation. if necessary. no required. No [or the account titles and O the amounts. Credit account titles automatically indented when omoun' is entered. Do not indcnt manually. debit entry before credit entry.' Account Titles and Explanation credit

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