For financial reporting, Kumas Poultry Farms has used the declining-balance method of depreciation for conveyor equipment acquired at the beginning of 2021 for $2,816,000. Its useful life was estimated to be six years with a $224,000 residual value. At the beginning of 2024, Kumas decides to change to the straight-line method. The effect of this change on depreciation for each year is as follows: ($ in thousands) Declining Balance Year 2021 2022 Straight Line $ 432 432 Difference $ 938 $ 506 626 194 2023 432 417 (15) $ 1,296 $1,981 $ 685 Required: 2. Prepare any 2024 journal entry related to the change. Note: Enter you answers rounded to the nearest dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Event General Journal 1 1 Depreciation expense Accumulated depreciation Debit Credit