In $2020,$ Sweet Corporation discovered that equipment purchased on January $1,2018,$ for $$44,000$ was expensed at that time. The equipment should have been depreciated over $5$ years, with no salvage value. The effective tax rate is $30\%.$ Sweet uses straight$-$line depreciation.

Prepare Sweet's $2020$ journal entry to correct the error. $($Credit occount titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the occount titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit