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Thanks! In 2021, internal auditors discovered that PKE Displays, Inc., had debited an expense account for the $384,000 cost of a equipment purchased on January
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In 2021, internal auditors discovered that PKE Displays, Inc., had debited an expense account for the $384,000 cost of a equipment purchased on January 1, 2018. The equipment's useful life was expected to be slx years with no residual value. Stralght-line depreclation is used by PKE. Ignoring income taxes. prepare the journal entry PKE use to correct the error. (If no entry is required for a transactionjevent, select "No journal entry required" in the first account field.) Journal entry worksheet Step by Step Solution
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