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In 2020. after the 2019 financial statements were issued Internal auditors discovered that PKF Deplays Inc haddebited an expense account for the $350.000 cost of
In 2020. after the 2019 financial statements were issued Internal auditors discovered that PKF Deplays Inc haddebited an expense account for the $350.000 cost of a machine purchased on January 1, 2015. 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 joy
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