Exercise: 0 marks Due to the contribution of an item of Plant which has been depreciated within the Joint Operations necounts, Purple Led has an overstatement of depreciation on plant of $25,000. That is, $25 040 too much depreciation is currently recorded in Purple Led's accounts. Purple Lid has a 50% ownership in the Joint Operation. The following information relates to the joint operation at the end of the year. Total Raw Material in JO $500 000 Total Work In Progress In JO $450 000 Total Inventory in JO 2600,000 Total Inventory distributed What is the journal entry necessary for Purple Lid to make the adjustment for overstated doprociation