In 2020, Eagle Corp., a public company, provided the following information:

1.Eagle had been depreciating equipment over a 10-year useful life on a straight-line basis. The equipment, which cost $24,000 and has an estimated residual value of $6,000 was purchased on January 1, 2016. On the basis of experience since acquisition, management decided in 2020 to depreciate it over a total of 14 years, instead of 10 years, with no change in the estimated residual value. No depreciation entry has been recorded for 2020.

2.In the past, Eagle recognized bad debt expense equal to 2% of sales. After careful review, it has been decided that 2.5% is more appropriate for 2020. Eagle would have reported $19,800 of bad debt expense under the old rate of 2% for 2020. No entry has yet been made in 2020 for bad debt expense.

3..Eagle company purchased another company early in 2016 and recorded goodwill of $300,000. Eagle had amortized $20,000 of goodwill per year from 2016 to 2020. The tax treatment for goodwill was properly applied. (Hint: under IFRS, goodwill is not amortised)

Required: Prepare the journal entries that Eagle needs to make to correct or adjust the accounts, assuming that the accounts for 2020 have not yet been closed. Ignore income tax.

Item 1	Debit	Credit
Item 2
Item 3

Please use all rows!