Current Attempt in Progress The first audit of the books of Kingbird Company was made for the year ended December 31, 202, In examining the books, the auditor found that certain items had been overlooked or incorrectly handled in the last 3 years. These items are: 1. At the beginning of 2019 , the company purchased a machine for $462,000/ salvage value of $46,200 ) that had a usefullife of 6 years, The bookkeeper used straight-line depreciation but failed to deduct the salvage value in computing the depreciation base for the 3 years. 2. At the end of 2020 , the company falied to accrue sales salaries of 549.000 3. A tax lawsoit that involved the year 2029 was settled late in 2021 . It was determined that the company omed an additional $85.000 in taxes related to 2019 . The company din ot record a fability in 2019 or 2020 because the possibility of loss was considered remote and charged the 585,000 to a loss sccoint in 200 ? 1 . 4. Kingbird Compary purchased acopyright from another company farly in 2019 for $50,000 Kingbird had not amertized the 5. In 2021, the companr wrote of 590,000 ot inyentory considered to be chnolete: inis loss was ctarzed directly to Retained Earnings: epare the journalentries necessary in 2021 to correct the books, assuming that the books have not been closed. Disregard effects of rrections on income tax. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is quired, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, es. 1250.)