AC$3220$ Corp. reported net incomes for the last three years as follows:

${2023}_{,}{2022}_{{?}_{?}},{2021}_{?}$

$$240,000,$$$225,000,$$$180,000$

During the $2023$ year$-$end audit, it came to your attention that AC$3220$ bought a truck on January $1,2021$ for

$$49,000$ cash, with an $$4,000$ estimated residual value and a six$-$year life. The company debited an expense

account for the entire cost of the asset. AC$3220$ uses straight$-$line depreciation for all trucks.

Instructions $($Ignore all income tax effects$)$

a$.$ Prepare the general journal entry required to correct the books for the truck assuming that the

books have not been closed for $2023.$ Assume a date of January $1$ for the entry.

b$.$ Prepare the general journal entry required to record depreciation for $2023.$ Assume a date of

December $31$ for the entry.

c$.$ Present comparative income statement data for the years $2021$ to $2023,$ starting with income

before the cumulative effect of any accounting changes.

d$.$ Assume that the beginning retained earnings balance $($unadjusted$)$ for $2023$ is $$900,000$ and that

comparative financial statements are not prepared. At what adjusted amount should this beginning

retained earnings balance be shown?