Exercise 20-11 (Algo) Change in depreciation methods [LO20-3] The Canliss Milling Company purchased machinery on January 2, 2019, for $830,000. A five-year life was estimates value was anticipated. Canliss decided to use the straight-line depreciation method and recorded $166,000 in dep and 2020. Early in 2021, the company changed its depreciation method to the sum-of-the-years-digits (SYD) meth Required: 1. Will Canliss apply the SYD method retrospectively or apply the method prospectively? Canliss will apply the SYD method 2. Prepare any 2021 journal entry related to the change. (If no entry is required for a transaction/event, selec required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry for depreciation in 2021.