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For financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for conveyor equipment acqure at the beginning of 2015 for $2,736,000. Its

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For financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for conveyor equipment acqure at the beginning of 2015 for $2,736,000. Its usefu ife was estimated to be sik years with a $204,000 residual value. At the beginning of 2018, Clinton decides to change to the straight-line method. The effect of this change on depreciation for each year is as follows ($ In 000s) Year Straight-Line Declining Balance Difference 2015 2016 2017 $ 422 422 422 $1,266 912 608 405 $1,925 $490 186 (17) $659 Required 2. 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 transactlon/event, select "No journal entry required" In the first account field.) 3 Answer is complete but not entirely correct No Event General Journal Debit Credit Depreciation expense 211,333 Accumulated depreciation 211,333

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