On July 9, 2021, Crane Enterprises Inc discovered it had recorded the $74,000 purchase of land as legal expense on November 8, 2020. The company had reported retained earnings of $568,000 at its previous year end, December 31, 2020. During 2021, Crane had profit of $191,000 and it declared and paid cash dividends of $214,000. Crane has a 25% income tax rate (a) Prepare the journal entry to correct the error (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Debit Credit Date Account Titles and Explanation Jan 1 V V To record correction of error