In 2023, after the 2022 financial statements were issued, internal auditors discovered that PKE Displays, Inc., had debited an expense account for the $350,000 cost of a machine purchased on January 1, 2018. The machine'ss useful life was expected to be five years with no residual value. Straight-line depreciation is used by PKE gnoring 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 transaction list Journal entry worksheet Record journal entry to correct error Note: Enter debits before credits