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PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU! In 2021, the internal auditors of Development Technologies, Inc., discovered that a $4.2
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU!
In 2021, the internal auditors of Development Technologies, Inc., discovered that a $4.2 million purchase of merchandise in 2021 was recorded in 2020 instead. The physical inventory count at the end of 2020 was correct. Assume the company uses a periodic inventory system Required: Prepare the journal entry needed in 2021 to correct the error. (lgnore income taxes.) (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.) View transaction list Journal entry worksheet > 1 Record the entry to correct the error. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal
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