In 2021, it was discovered that Carney had debited expense for the full cost of an asset purchased on January 1, 2017. The cost was $12 million with no expected residual value. Its useful life was 6 years and straight-line depreciation is used by the company. The correcting entry assuming the error was discovered in 2021 before the adjusting and closing entries includes A credit to accumulated depreciation of $4 million A credit to an asset of $12 million A debit to retained earnings of 58 million A credit to retained earnings of 54 million