Problem: On December 31 of Year 4, Mateo Company is preparing adjusting entries for its annual year-end. The following issue confronts the company. Equipment #B2 with a cost of $6,000 was purchased on January 1 of Year 1. It is being depreciated on a straight-line basis over an estimated useful life of eight years with no residual value. At December 31 of Year 4, it was discovered that no depreciation had been recorded on this equipment for Year 1 or Year 2, or Year 4, but it was recorded for Year 3. a. For equipment #B2, provide the required adjusting entry for depreciation expense at December 31 of Year 4 b. For equipment #B2, provide any necessary correcting entry. Ignore income taxes.