Question: this problem wants me to use the double declining balance, i need help figuring out the dollar amount for debit an credit. thank you! Required
Required information [The following information applies to the questions displayed below] Wardell Company purchased a minicomputer on January 1,2022 , at a cost of $58,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $10,000. 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 $2,200. 2. Prepare the year-end journal entry for depreciation on December 31, 2024. Assume that the company uses the double-decliningbalance method instead of the straight-line method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations, Round your final answers to nearest whole dollar
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