7 Brief Exercise 11-16 (Static) Error correction (LO11-7) 0.75 points At the beginning of 2019, Robotics Inc. acquired a manufacturing facility for $12 million $9 million of the purchase price was allocated to the building. Depreciation for 2019 and 2020 was calculated using the straight-line method, a 25-year useful life, and a $1 million residual value. Assume that 2019 depreciation was incorrectly recorded as $32,000. This error was discovered in 2021. Required: 1. Record the journal entry needed in 2021 to correct the error 2. What is depreciation on the building for 2021 assuming no change in estimate of useful life or residual value? 7 Complete this question by entering your answers in the tabs below. General Depr Journal Record the journal entry needed in 2021 to correct the error. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answer in whole dollars.) View transaction Hot eBook D Journal entry worksheet Print References Record the entry for error correction Note: Enter debits before credits General Journal Debit Event 1 Credit Record entry Clear entry View general Journal Brief Exercise 11-16 (Static) Error correction (LO11-7) At the beginning of 2019, Robotics Inc, acquired a manufacturing facility for $12 million $9 million of the purchase price was allocated to the building. Depreciation for 2019 and 2020 was calculated using the straight-line method, a 25-year useful life, and a $1 million residual value Assume that 2019 depreciation was incorrectly recorded as $32,000. This error was discovered in 2021. Required: 1. Record the journal entry needed in 2021 to correct the error 2. What is depreciation on the building for 2021 assuming no change in estimate of useful life or residual value? ok Complete this question by entering your answers in the tabs below. int General Depr Journal What is depreciation on the building for 2021 assuming no change in estimate of useful life or residual value? (Enter your answer in whole dollars.) rences Depreciation General Journal