Accounting for IGCSE & O level - Accounting Procedures (Section 11 - No. 13)
What is the accounting entry for recording depreciation expense?
Debit Depreciation Expense, Credit Accumulated Depreciation
Debit Accumulated Depreciation, Credit Depreciation Expense
Debit Cash, Credit Depreciation Expense
Debit Depreciation Expense, Credit Cash
Explanation
Depreciation expense is debited to increase the expense, and accumulated depreciation is credited to increase the contra-asset account.
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