In $2024,$ internal auditors discovered that PKE Displays, Incorporated, had debited an expense account for the $$380,000$ cost of a

machine purchased on January $1,2021.$ The machine's useful life was expected to be five years with no residual value. Straight$-$line

depreciation is used by PKE.

Ignoring income taxes, prepare the journal entry PKE will use to correct the error $($before adjusting and closing entries$).$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry

worksheet

$1$

Record entry to correct error.

Note: Enter debits before credits.