Recording Error Corrections Related to Equipment On April 1 of the current year, the following prior year errors were discovered after the prior year financial statements were issued. a. Equipment purchased on January 1 of the prior year with a cost of $52,000, salvage value of $3,120, and useful life of 8 years was incorrectly expensed as maintenance cost. The company uses the straight-line method to depreciate all equipment. b. In the prior year, fully depreciated equipment with an original cost of $65,000 and no salvage value was sold for $5,200 cash. The company's entry for the sale was a debit to Cash for $5,200 and a credit to Equipment for $5,200. c. Equipment purchased on June 30 of the prior year, with a cost of $169,000, a salvage value of $11,700, and a useful life of 8 years was incorrectly entered into the depreciation system as having a useful life of 18 years. Required Prepare entries to correct each of the errors a, b, and c, discovered in the current year. Ignore income taxes. Note: Round answers to the nearest whole dollar. Date a. Jan. 1 Account Name To correct error. b. Jan. 1 To correct error. c. Jan. 1 To correct error. < < < > > Dr. Cr. 0 0 0 0 0 0 0 0 0 0 0 0 0 0