Q3 questionbelow

Prepare The 2020 journal entries related to the accounting changes for the following independent scenario. (a) At the beginning of 2020, Facebook, Inc. Changed the way they recognize revenue from the completed-contract method to the percentage-of-completion methods for financial reporting purposes. The company will continue to use the completed-contract method for Tax purposes. For year prior to 2020, pretax income under the two methods was as follows: completed- contract: $1,000,000; percentage-of-completion: $1,500,000. The Tax rate is 30%. (b) Nancy corporation changed depreciation methods in 2020 from double-declining-balance to straight-line. Depreciation prior to 2020 under double-declining balance was $350,00, whereas straight-line depreciation prior to 2020 would have been $200,000. Love's depreciable asset had cost of 750,000 with a $50,000 salvage value, and a 7-year remaining useful life at the beginning of 2020. (c) Hugo Boss company purchased a building for $400,000 on January 1, 2017. It was depreciated based on a 10-year useful life and a $50,000 salvage value. On January 1, 2020, Hugo Boss revised these estimates to a total useful life of 8 years and salvage value of $40,000. Hugo Boss uses straight-line depreciation