Accounting for IGCSE & O level - Accounting Procedures (Section 25 - No. 12)
In a general journal, what is the debit and credit entry for annual depreciation expense?
Debit Accumulated Depreciation, Credit Depreciation Expense
Debit Depreciation Expense, Credit Accumulated Depreciation
Debit Cash, Credit Depreciation Expense
Debit Depreciation Expense, Credit Cash
Explanation
Depreciation Expense is debited, and Accumulated Depreciation is credited.
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