On July 9, 2021, Sheridan Enterprises Inc. discovered it had recorded the $79,000 purchase of land as legal expense on November 8, 2020. The company had reported retained earnings of $602,000 at its previous year end, December 31, 2020. During 2021, Sheridan had profit of $203,000 and it declared and paid cash dividends of $227,000. Sheridan has a 25% income tax rate. Collapse question part (a) Prepare the journal entry to correct the error.