On January 1, 2002, the Klinefelter Company purchased a building for $520,000. The building had an estimated life of 20 years and an estimated residual value of $20,000. The company has been depreciating the building using straight-line depreciation. At the beginning of 2008, the following independent situations occur:

1. The company estimates that the building has a remaining life of 10 years (for a total of 16 years).

2. The company changes to the sum-of-the-years’-digits method.

3. The company discovers that it had ignored the estimated residual value in the computation of the annual depreciation each year.

Required

For each of the independent situations, prepare all of the journal entries related to the building for 2008. Ignore income taxes.