Machinery purchased for $64,800 by windsor co. in 2016 was originally estimated to have a life of 8 years with a salvage value of $4,320 at the end of that time. depreciation has been entered for 5 years on this basis. in 2021, it is determined that the total estimated life should be 10 years with a salvage value of $4,860 at the end of that time. assume straight-line depreciation. prepare the entry to correct the prior year's depreciation, if necessaryprepare the entry to record depreciation for 2021

answer; /// the above statement is (true); good luck

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