Ruan's Shipping and Storage underwent a restructuring in 2003. The company conducted a thorough internal audit, during which the following facts were discovered. The audit occurred during 2003 before any adjusting entries or closing entries are prepared.
Additional printers were acquired at the beginning of 2001 and added to the company's office network. The $9,000 cost of the printers was inadvertently recorded as maintenance expense. The printers have 5 year useful lives and no material salvage value. This class of equipment should have been depreciated using the straight-line method with $1,800 of depreciation expense/year.
What entries are required to correct the error and correctly state the balances in the impacted accounts on 12/31/2003? Ignore any tax implications.