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Prepare the journal entry DeSoto will use to correct error

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Reference no: EM133158036

Question - When DeSoto Water Works purchased equipment at the end of 2020 at a cost of $70,000, the company debited Buildings and credited Cash $70,000. The error was discovered in 2021. Prepare the journal entry DeSoto will use to correct the error.

Reference no: EM133158036

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