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In 2020, a company purchased equipment for 100. But instead of debiting Equipment, the bookkeeper accidentally debited Depreciation Expense - Equipment. Furthermore, because Equipment was
In 2020, a company purchased equipment for 100. But instead of debiting Equipment, the bookkeeper accidentally debited "Depreciation Expense - Equipment". Furthermore, because Equipment was not capitalized, the company did not recognize depreciation expense of 10 on this equipment on 12/31/20. Prepare the entry to fix the effects of this error assuming the mistake was not discovered until 2021. You can ignore tax effects. ONLY PUT YOUR FINAL ANSWER IN THE SPACES. Do not put in any work or any journal entries you may have worked through to get to the final answer. Only your final answer. Anything you place in the text box I am going to assume is part of your final answer and will grade it as such
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