The following information is available for Zip Corporation:

Retained Earnings, December 31, 2017		$1,500,000
Net Income for the year ended December 31, 2018		$200,000

The company accountant, in preparing financial statements for the year ending December 31, 2018, has discovered the following information: The companys previous bookkeeper, who has been fired, had recorded depreciation expense on equipment in 2016 and 2017 using the double-declining-balance method of depreciation. The bookkeeper neglected to use the straight-line method of depreciation which is the companys policy. The cumulative effects of the error on prior years was $35,000, ignoring income taxes. Depreciation was computed by the straight-line method in 2018.

Prepare the entry for the prior period adjustment. (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 0 for the amounts.)

Account Titles and Explanation	Debit	Credit