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4 In 2021, internal auditors discovered that PKE Displays, Inc., had debited an expense account for the $426,000 cost of a equipment purchased on January
4 In 2021, internal auditors discovered that PKE Displays, Inc., had debited an expense account for the $426,000 cost of a equipment purchased on January 1, 2018. The equipment's useful life was expected to be six years with no residual value. Straight-line depreciation is used by PKE. 3.46 points Ignoring income taxes, prepare the journal entry PKE use to correct the error. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 03:04:11 View transaction list eBook Journal entry worksheet Print Record entry to correct error. Note: Enter debits before credits. Event Debit Credit 1 General Journal Equipment Accumulated depreciation Record entry Clear entry View general journal
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