Hardev Required information[The following information applies to the questions displayed below.)2. Prepare the year-end journal entry for depreciation on December 31, 2024. Assume that the company uses the double-declining-balance method instead of the straight-line method.NoWardell Company purchased a minicomputer on January 1, 2022, at a cost of $54,000. The computer was depreciatedusing the straight-line method over an estimated five-year life with an estimated residual value of $6,000. 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$3,600.Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not roundintermediate calculations. Round your final answers to nearest whole dollar.1Event1Answer is complete but not entirely correct.General JournalDepreciation expenseAccumulated depreciation-computerDebit4,978Credit4,978

Depreciation: Depreciation is the process of reducing the value of the assets. It is a non-cash…

[The following information applies to the questions displayed below.) Wardell Company purchased a minicomputer on January 1, 2022, at a cost of $54,000. The computer was dep using the straight-line method over an estimated five-year life with an estimated residual value of $6,000. On 2024, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was cha $3,600. onare the una