Albatross Company purchased a piece of machinery for $60,000 on January 1, 2011 and has been depreciating the machine using the sum-of-the-years'-digits method based on a five-year estimated useful life and no salvage value. On January 1, 2013, Albatross decided to switch to the straight-line method of depreciation. The salvage value is still zero and the estimated useful life did not change. Ignore income taxes.
1. Prepare the appropriate journal entry, if any, to record this accounting change.
2. Prepare the journal entry to record depreciation for 2013.