The Canliss Milling Company purchased machinery on January $2,2022,$ for $$870,000.$ A five$-$year life was estimated and no residual value was anticipated. Canliss decided to use the straight$-$line depreciation method and recorded $$174,000$ in depreciation in $2022$ and $2023.$ Early in $2024,$ the company changed its depreciatlon method to the sum$-$of$-$the$-$years'$-$digits $($SYD$)$ method:

Required:

Will Canliss apply the SYD method retrospectively or apply the method prospectively?

Prepare any $2024$ journal entry related to the change.

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Will Canliss apply the SYD method retrospectively or apply the method prospectively?

Canliss will apply the SYD method