Prepare journal entry hepburn should use to correct error

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Question - Hepburn Company Purchased equipment for $300,000 and placed it in service on January 1, 20x1, In 20x4, the accounting manager at Hepburn discovered that the cost of the machine had been mistakenly debited to repairs expense on the date of purchase. The equipment's useful life was expected to be four years with no residual value. Hepburn uses the straight-line depreciation method. Ignoring income taxes, prepare the journal entry Hepburn should use to correct the error in 20x4.

Reference no: EM133179215

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