In 2018, the internal auditors of KJI Manufacturing discovered the following material errors made in prior years: 1. Equipment was purchased on June 30, 2016, for $175,000. The purchase was incorrectly recorded as a debit to repair and maintenance expense. The equipment has a useful life of five years and no residual value. 2. On March 31, 2017, $40,000 was paid to a contractor to landscape the area around a manufacturing plant including the installation of a sprinkler system. The expenditure was debited to the Land account. The landscaping is expected to have a 20 year useful life and no residual value. KJl uses the straight-line method of depreciation for all depreciable assets. Required: 1. Prepare the journal entries at December 31, 2018. to correct the errors (ignore income taxes). 2. Prepare the journal entries to record 2018 depreciation for any assets recorded in requirement 1