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What is the journal entry pke use to correct the error

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Reference no: EM132570405

In 2021, internal auditors discovered that PKE Displays, Inc., had debited an expense account for the $480,000 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.

Question 1: Ignoring income taxes, what is the journal entry PKE use to correct the error?

Reference no: EM132570405

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