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Prepare any journal entry related to the change

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Question - The Canliss Milling Company purchased machinery on January 2, 2019, for $980,000. A five-year life was estimated and no residual value was anticipated. Canliss decided to use the straight-line depreciation method and recorded $196,000 in depreciation in 2019 and 2020. Early in 2021, the company changed its depreciation method to the sum-of-the-years'-digits (SYD) method. Prepare any 2021 journal entry related to the change.

Reference no: EM133064136

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