For financial reporting, Clinton Poultry Farms has used the declining$-$balance method of depreciation for conveyor equipment acquired at the beginning of $2021$ for $$2,750,000.$ Its useful life was estimated to be five years, with a $$180,000$ residual value. At the beginning of $2024,$ Clinton decides to change to the straight$-$line method. The effect of this change on depreciation for each year is as follows:

Required:

$2.$ Prepare any $2024$ journal entry related to the change.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in whole dollars rounded to the nearest whole number.

Journal entry worksheet

$1$

Record depreciation expense for $2024.$

Note: Enter debits before credits.

$\backslash$table$[[$Event$,$General Journal,Debit,Credit$],[1,$Depreciation expense,,$],[,$Accumulated depreciation,,$],[,,,]]$

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