2 3 4 5 In 2020, Balley Corporation discovered that equipment purchased on January 1, 2018, for $50,000 was expensed at that time. The equipment should have been depreciated over 5 years, with no salvage value. The effective tax rate is 30%. Bailey uses straight-line depreciation. Prepare Bailey's 2020 journal entry to correct the error. (Credit account titles are automatically indented when