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Assume you are the Chief Accounting Officer for Mississippi Cookie Company and you are currently undergoing 2022 year-end audit for the company. Assume that the
Assume you are the Chief Accounting Officer for Mississippi Cookie Company and you are currently undergoing 2022 year-end audit for the company. Assume that the books have been closed for 2022. At the beginning of 2020 , the company purchased a new oven for $10,000 with a salvage value of $1,000 and a useful life of 10 years. This purchase was correctly recorded, however, the company has failed to record depreciation for each of the past three years. Record the required journal entry (if any) to correct this error
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