For financial reporting, a company has used the declining-balance method of depreciation for conveyor equipment acquired at the beginning of Year 1 for $2,864,000. Its useful life was estimated to be six years with a $236,000 residual value. At the beginning of Year 4, the company decides to change to the straight-line method. The effect of this change on depreciation for each year is as follows: Year Year 1 Year 2 Straight-Line ($ in thousands) Declining Balance Difference $ 438 Year 3 438 438 $ 954 636 $ 516 425 198 (13) $ 1,314 $ 2,015 $ 701 Required: 2. Prepare any Year 4 journal entry related to the change. Note: Enter you answers rounded to the nearest dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record entry Clear entry View general journal