E H On 1/1/19, French Company purchased a machine for $480,000. Although the machine was expected to have a five-year life, it was erroneously 2 expensed in recording the purchase. The appropriate depreciation method for this machine is double-declining-balance with no residual. B 4 What journal entry will French make if this error is discovered at the end of 2021? 6 7 IN 9 10 How will it affect the adjusted 1/1 retained earnings for comparative financial statements for 2021 and 2020? (Show amounts and positive/negative.)