In 2011, internal auditors discovered that PKE Displays, Inc. had debited an expense account for the $350,000

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In 2011, internal auditors discovered that PKE Displays, Inc. had debited an expense account for the $350,000 cost of a machine purchased on January 1, 2008. The machine's useful life was expected to be five years with no residual value. Straight-line depreciation is used by PKE. Ignoring income taxes, what journal entry will PKE use to correct the error?


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Intermediate Accounting

ISBN: 978-0077400163

6th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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