The following errors were discovered on the books of Flint Inc., during the preparation of the 2020 financial statements, prior to the books being closed for the year. (a) $15,500 of goods held on consignment from Stevens Co were counted as part of Flint's inventory at the end of fiscal 2019. The goods were not sold during fiscal 2020, and were returned to Stevens Co. They were not part of the fiscal 2020 year-end inventory count. Assume a perpetual inventory system in this case. (b) Goods worth $26,800 were shipped FOB destination on December 29, 2019 and were received by the customer on January 5, 2020. Revenue was recorded in fiscal 2019, when the goods were shipped. Assume a periodic inventory system is being used in this case. The goods shipped were included in the ending inventory count in 2019. (c) During the first week of January 2018, equipment was purchased for $21,000. The entire purchase was recorded with a debit to Repairs and Maintenance Expense, and a credit to cash. At the time of purchase, Flint expected to keep the equipment for four years, and then to sell it for $4,200. Flint uses the straight-line method of depreciation for equipment. Prepare the journal entries required to correct the above errors, assuming that Flint follows IFRS. Ignore income tax for this problem. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit Cost of Goods Sold 15500 Inventory 15500 Sales Revenue 26800 Accounts Receivable 26800 (c) Equipment 21000 Depreciation Expense 4200 Retained Earnings 12600 Accumulated Depreciation - Equipment 12600 (To correct for prior year error and record current year depreciation.)