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In 2021, management discovered that Dual Production had debited expense for the full cost of an asset purchased on January 1.2018, nt a cost of

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In 2021, management discovered that Dual Production had debited expense for the full cost of an asset purchased on January 1.2018, nt a cost of 536 million with no expected residual value. Its usefut life was 5 years. Dual uses straight-line depreciation. The correcting entry, assuming the error was discovered in 2021 bofore preparation of the adjusting and closing entries, includes (ignore taxesk: Multiple Cnosce A debit to accumulated depreciation of 514.4 milion. A credit to occumutated depreciation of $21.6 milion, A debit to retalned earnings of 514.4 militon A credit to an asset of $36 mililion

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