Machinery purchased for $\backslash (\backslash$$ $63,000\backslash )$ by Concord Co$.$ in $2021$ was originally estimated to have a life of $8$ years with a salvage value of $\backslash (\backslash$$ $4,200\backslash )$ at the end of that time. Depreciation has been entered for $5$ years on this basis. In $2026,$ it is determined that the total estimated life should be $10$ years with a salvage value of $\backslash (\backslash$$ $4,725\backslash )$ at the end of that time. Assume straight$-$line depreciation. $($a$)$ Your answer is correct. Prepare the entry to correct the prior years' depreciation, if necessary. $($ff no entry is required, select $"$No entry" for the account tibles and enter $\backslash ($ O $\backslash )$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manualiy. List debit entry before credit entry$)$Prepare the entry to record depreciation for $2026.($ff no entry is required, select $"$No entry" for the occount titles and enter O for the omounts. Credit account titles are automatically indented when amount is entered. Do not indent manuall$).$ Use Machinery related occount. List debit entry before credit entry.$)$