Ordinary repairs of $18,000 in January of 2018 were inadvertently debited to an equipment account. The equipment was originally purchased in January of 2018 and had a useful life of 10 years. Record the entry to correct the error assuming that the error was discovered in 2020. Ignore income taxes for simplification.

Note: Carry all decimals in calculations; round the final answer to the nearest dollar.

Date	Account Name	Dr.	Cr.
Jan. 1, 2020	CashInventoryPropertyBuildingEquipmentAccumulated DepreciationCost of Oil ReserveRetained EarningsPrior Period AdjustmentSalesCost of Goods SoldDepreciation ExpenseExploration ExpenseRepairs ExpenseGain on Reversal of Impairment LossLoss on ImpairmentLoss on DisposalN/A
	Accumulated Depreciation
	CashInventoryPropertyBuildingEquipmentAccumulated DepreciationCost of Oil ReserveRetained EarningsPrior Period AdjustmentSalesCost of Goods SoldDepreciation ExpenseExploration ExpenseRepairs ExpenseGain on Reversal of Impairment LossLoss on ImpairmentLoss on DisposalN/A