For financial reporting, Clinton Poultry Farms has used the declining$-$balance method of depreciation for conveyor equipment acquired

at the beginning of $2015$ for $$2,560,000.$ Its useful life was estimated to be six years with a $$160,000$ residual value. At the beginning

of $2018,$ Clinton decides to change to the straight$-$line method. The effect of this change on depreciation for each year is as follows $($$

in $000$s$)$:

Required:

Prepare any $2018$ 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.$)$

Journal entry worksheet

$1$

Record the adjusting entry for depreciation in $2018.$

Note: Enter debits before credits.

please xplain it throrughly. Thank you for your time!