Exercise 20-10 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 2013 for $2,864,000. Its useful life was estimated to be six years with a $236,000 residual value. At the beginning of 2016, Clinton decides to change to the straight-line method. The effect of this change on depreciation for each year is as follows ($ in 000s):

Year

	Straight-Line			Declining Balance			Difference
2013	$	438		$	954		$	516
2014		438			636			198
2015		438			425			(13	)
	$	1,314		$	2,015		$	701

2. Prepare any 2016 journal entry related to the change. (Enter your answers in dollars rounded to the nearest thousand. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)