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Cullumber Enterprises Ltd. follows IFRS and has provided the following information: 1. In 2022 , Cullumber was sued in a patent infringement suit, and in 2023 , Cullumber lost the court case. Cullumber must now pay a competitor $50,000 to settle the suit. No previous entries had been recorded in the books related to this case because Cullumber's management believed the company would win. 2. A review of the company's provision for uncollectible accounts during 2023 resulted in a determination that 1.5% of sales is the appropriate amount of loss on impairment to be charged to operations, rather than the 2% used for the preceding two years. Loss on impairment recognized in 2022 and 2021 was $33,200 and $16,200, respectively. The company would have recorded $18,000 of loss on impairment under the old rate for 2023. No entry has yet been made in 2023 for loss on impairment. 3. Cullumber acquired land on January 1,2020 , at a cost of $70,760. The land was charged to the Equipment account in error and has been depreciated since then on the basis of a five-year life with no residual value, using the straight-line method. Cullumber has already recorded the related 2023 depreciation expense using the straight-line method. 4. During 2023 , the company changed from the double-declining-balance method of depreciation for its building to the straightline method because of a change in the pattern of benefits received. The building cost $1,600,000 to build in early 2021 , and no residual value is expected after its 40 -year life. Total depreciation under both methods for the past three years is as follows. Double-declining-balance depreciation has been recorded for 2023. 5. Late in 2023 , Cullumber determined that a piece of specialized equipment purchased in January 2020 at a cost of $75,000 with an estimated useful life of five years and residual value of $7,000 is now expected to continue in use until the end of 2027 and have a residual value of $3,400 at that time. The company has been using straight-line depreciation for this equipment, and depreciation for 2023 has already been recognized based on the original estimates. 6. The company has determined that a $400,000 note payable that it issued in 2021 has been incorrectly classified on its statement of financial position. The note is payable in annual instalments of $50,000, but the full amount of the note has bee shown as a long-term liability with no portion shown in current liabilities. Interest expense relating to the note has been properly recorded. a1) For each of the accounting changes, errors, or transactions, present the journal entries that Cullumber needs to make to correct or adjust the accounts, assuming the accounts for 2023 have not yet been closed. Ignore income tax considerations. (List all debit entries before credit entries. 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.)

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