Ivanhoe Ltd. purchased a piece of equipment on January 1, 2019, for $1,275,000. At that time, it was estimated that the mad would have a 15-year life and no residual value. On December 31, 2023, Ivanhoe's controller found that the entry for depreciation expense was omitted in error in 2020. In addition, Ivanhoe planned to switch to double-declining-balance depreciation beca change in the pattern of benefits received, starting with the year 2023. Ivanhoe currently uses the straight-line method for depreciating equipment. Ivanhoe Ltd. follows IFRS.

Prepare the general journal entries, if any, the accountant should make at December 31, 2023. Ignore income tax effects. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select \"No Entry\" for the account titles and enter \\( \\mathrm{O} \\) for the amounts. Round the rate of deprecition under double decling balance method to 5 decimal places, ie. 13.33333\\%. Round answers to 0 decimal places, e.g. 5,125.)