In 2024, the internal auditors of Development Technologies, Incorporated, discovered that a $4.8 million purchase of merchandise in 2024 was recorded in 2023 instead. The physical inventory count at the end of 2023 was correct. Assume the company uses a periodic inventory system. Required: Prepare the journal entry needed in 2024 to correct the error. (Ignore income taxes.) Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the entry to correct the error. Note: Enter debits before credits