there to search Current Attempt in Progress The first audit of the books of Cheyenne Company was made for the year ended December 31, 2021. In examining the books, the auditor found that certain items had been overlooked or Incorrectly handled in the last 3 years. These items are 1. 2. A S At the beginning of 2019, the company purchased a machine for $537,000 (salvage value of $53.700) that had a useful life of 6 years. The bookkeeper used straight-line depreciation but falled to deduct the salvage value in computing the depreciation base for the 3 years At the end of 2020, the company failed to accrue sales salaries of $43,000 A tax lawsuit that involved the year 2019 was settled late in 2021. It was determined that the company owed an additional S8000 in taxes related to 2019. The company did not record a lability in 2019 or 2020 because the possibility of loss was considered remote and charged the $66.000 to a loss account in 2001 Cheyenne Company purchased a copyright from another company early in 2019 for $54000 Cheyenne had not amortized the copyright because its value had not diminished. The copyright has a use life at pundase of 20 years In 2023, the company wrote off $92.000 of inventory considered to be obsolete: This fos was charged directly to Retained Lamina Prepare the purial entries necessary in 2021 to correct the books. assuming that this books have not been closet Disregard effects of coctioncon income tax Credit account titles are automatically indented when amount is enter. Do not indent manually. If no entry is muret No Entry for the account titles and enter O for the amounts Round answers to Odecimal places eg 1250) No. Account Titles and Explanation Debit Credit D 69 Cloudy O 127PM