7 For financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for conveyor equipment acquired at the beginning of 2018 for $2,560,000. Its useful life was estimated to be six years, with a $160,000 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: 3 points eBook Print References Year 2018 2019 2020 Straight Line $ 400 400 400 $1,200 View transaction list ($ in thousands) 1 Required: 2. Prepare any 2021 journal entry related to the change. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round final answers to the nearest whole dollars.) Journal entry worksheet Event 1 Declining Balance $ 853 569 379 $1,801 Record depreciation expense entry for 2021. Note: Enter debits before credits. Record entry General Journal Depreciation expense Accumulated depreciation Difference $453 169 (21) Clear entry $601 Debit Credit LI View general journal

For financial reporting, Ginton Poulty Farms has used the declining-batance method of depreciation for conveyor equipment acquired at the beginning of 20 ti for $2.560,000 its useful life was estimated to be six years, with a $160,000 residual value At the beginning of 2021, Cinton decides to change to the straightiline method. The effect of this change on depreciation for each year is as follows Required: 2. Prepore any 2021 joumal entry reloted to the change (If no entry is required for a transaction/event, select "No journol entry required in the first account field. Round final answers to the nearest whole dollars.) Journal entry worksheet Ifcord cepreciation nipense enty for 2021