$25$ pts Orlon Company has made some accounting errors, all discovered before the books were closed in $2023.$

The correction for each is required, but I included a recommended worksheet to solve. The books are closed for $2022.$

Show only the correction, not what they need to do for $2022.$

A machine was purchased for $$50,000$ with cash in January $2021.$ It was charged to Repair Expense. The machine has a five year life and a salvage value of $$10,000.$ Bonn uses straight line depreciation. No depreciation has been recorded in $2021,2022,2023.$

What they did in $2021$

What they should have done $2021,2022,$ and $2023$

Correction at end of $2023,$ including needed entry for $2023$

a$.$ A machine was purchased for $$50,000$ with cash in January $2021.$ It was charged to Repair Expense. The machine has a five year and a salvage value of $$10,000.$ Bonn uses straight line depreciation. No depreciation has been recorded in $2021,2022,2023.$

$\backslash$table$[[,,]]$

What they should have done $2021,2022,$ and $2023$

$$

$++$

$\backslash$table$[[],[],[],[]]$

$+$

b$.$

$\backslash$table$[[$A check was received for $$21,000$ for thre$],[$The check was received January $3,2021.]]$

What they did in $2022$

$2$

What they should have done $2022$

Correction at end of $2023,$ including needed entry for $2023$

c$.$

On December $31,2022,$ Bonn failed to accrue $$15,000$ of salaries.

What they did in $2022$

What they should have done $2022$

Correction at end of $2023$

d$.$

Bonn had sales on account in $2022$ resulting in accounts receivable never to be collected of $$12,000.$ In $2022,$ they wrote off to bad debt expense and accounts receivable $$5,000.$

What they did in $2022$

What they should have done $2022$

Correction at end of $2023$