In $2025,$ Sarasota Corporation discovered that equipment purchased on January $1,2023,$ for $$55,000$ was expensed at that time. The equipment should have been depreciated over $5$ years, with no salvage value. The effective tax rate is $30\%.$

Prepare Sarasota's $2025$ journal entry to correct the error. Sarasota uses straight$-$line depreciation. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit