In 2016, internal auditors discovered that PKE Displays, Inc., had debited an expense account for the $325,000 cost of a machine purchased on January 1, 2013. 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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Event General Journal Debit Credit 1 1 Equipment