In Sheridan Corporation discovered that equipment purchased on January for $ was expensed at that time. The equipment should have been depreciated over years, with no salvage value. The effective tax rate is

Prepare Sheridan\'s journal entry to correct the error. Sheridan uses straightline depreciation. 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 O for the amounts. List all debit entries before credit entries.In Sheridan Corporation discovered that equipment purchased on January for $ was expensed at that time. The equipment should have been depreciated over years, with no salvage value. The effective tax rate is

Prepare Sheridan\'s journal entry to correct the error. Sheridan uses straightline depreciation. 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 O for the amounts. List all debit entries before credit entries.