Question: In 2 0 2 1 , internal auditors discovered that PKE Displays, Inc., had debited an expense account for the $ 4 0 2 ,

In 2021, internal auditors discovered that PKE Displays, Inc., had debited an expense account for the $402,000 cost of a equipment purchased on January 1,2018. The equipment's useful life was expected to be six years with no residual value. Straight-line depreciation is used by PKE.Ignoring income taxes, prepare the journal entry PKE use to correct the error. (If no entry is required for a transaction/event, select"No journal entry required" in the first account field.)View transaction listJournal entry worksheet1Record entry to correct error.Note: Enter debits before credits.EventGeneral JournalDebitCredit1Equipment402,000Accumulated depreciationRetained earningsPrev4 of 10

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