Equipment purchase for 75,000. The accountant improperly expenses the purchase as an operating expense for year 1. The equipment has no salvage value and a useful life of ten years. The company operates and reports it financial statement on a calendar year. Once the books for the year were closed the company discovered the error it had made in year 1. What journal entries would they record in year 2 for correct the books of the error? How much depreciation expense would they record during year 2 for the piece of equipment? Would the company post the correction prospectively or retrospectively?