In 2011 the internal auditors of Development Technologies Inc discovered
In 2011, the internal auditors of Development Technologies, Inc. discovered that a $4 million purchase of merchandise in 2011 was recorded in 2010 instead. The physical inventory count at the end of 2010 was correct.

Prepare the journal entry needed in 2011 to correct the error. Also, briefly describe any other measures Development Technologies would take in connection with correcting the error.

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