1.11 4 points Exercise 20-10 (Algo) Change in depreciation methods [LO20-3] For financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for conveyor equipment acquired at the beginning of 2018 for $2,800,000. Its useful life was estimated to be six years with a $220,000 residual value. At the beginning of 2021, Clinton decides to change to the straight-line method. The effect of this change on depreciation for each year is as follows: Year Straight-Line eBook 2018 $ 430 430 430 $1,290 Print 2019 2020 ($ in thousands) Declining Balance $ 933 622 415 $1,970 Difference $503 192 (15) $680 References Required: 2. Prepare any 2021 journal entry related to the change. (Enter your answers in dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Event General Journal 1 1 Depreciation expense Accumulated depreciation + Debit Credit