Business, 21.05.2020 00:11 mervesena01

Lindy Company's auditor discovered two errors. No errors were corrected during 2020. The errors are described as follows:
(1) Merchandise costing $4,100 was sold to a customer for $9,100 on December 31, 2020, but it was recorded as a sale on January 2, 2021. The merchandise was properly excluded from the 2020 ending inventory. Assume the periodic inventory system is used.
(2) A machine with a four-year life was purchased on January 1, 2020. The machine cost $21,000 and has no expected salvage value. No depreciation was taken in 2020 or 2021. Assume the straight-line method for depreciation.
Required:
Prepare appropriate journal entries (assume the 2021books have not been closed). Ignore income taxes. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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Lindy Company's auditor discovered two errors. No errors were corrected during 2020. The errors are...

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