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Make the journal entry to record the depreciation

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Question - Windsor Enterprises Ltd. purchased machinery on January 1, 2015. The machinery cost $305,000, and was estimated to have a ten-year useful life and a residual value of $43,000. Straight-line depreciation was recorded each year-end (December 31) to the end of December 31, 2019. On January 1, 2020, Windsor re-evaluated the machinery. It was now believed that the equipment's total life was expected to be 15 years. Make the journal entry to record the depreciation for 2020.

Reference no: EM132798330

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