Gundrum company purchased equipment on january 1, 2015 for $899,800. the equipment was expected to have a useful life of 10 years and a salvage value of $27,000. gundrum uses the straight-line method of depreciation. at the beginning of 2020, gundrum determined the total estimated life of the equipment was 13 years and the residual value would be $10,200 at the end of that time.
Required:
Prepare any entry needed in 2020 to account for this change.