一、Sunny Corporation purchased a machine on October 1, 2016, for $840,000. At that time, it was estimated that the machine would have a 6-year life and no salvage value, the company used the sum-of-the-years’-digits method for deprecating equipment. On December 31, 2019, the firm’s accountant found that the entry for depreciation expense had been omitted in 2018. In addition, management has informed the accountant that the company plans to switch to straight- line depreciation, starting with the year 2019. Required:
Prepare the general journal entries that should be made at December 31, 2019 to record these events.
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