Accounting for IGCSE & O level - Accounting Procedures (Section 6 - No. 41)
What is the correct journal entry to record 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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