Quigley Co. bought a machine on January 1, 2016 for $1,402,700. It had a $119,800 estimated residual value and a 12-year life. An expense account was debited on the purchase date. Quigley uses straight-line depreciation. This was discovered in 2018. Prepare the entries related to the machine for 2018. Ignore taxes. (If no entry is required, select "No entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to o decimal places, e.g. 5,250.) Account Titles and Explanation Debit Credit Equipment Retained Earnings Accumulated Depreciation Equipment (To correct the error) (To record depreciation expense)