Recording Depreciation Error Correction Hondae inc, purchased equipment on January 1 or Year 1 at a cost of $600,000. The company estimated a $15,000 salvage value and a useful iffe of 10 years for the equipment. The company elected to use the straight-line depreciation method. in entering the information for the asset into the depreciation system, the salvage value was inadvertently entered as $150,000 instead of $15,000. This error was discovered early in Vear 1 . Record the Year 4 foumal entry to correct this error tgnore income tax