A car valued at $30,000 has $600 of depreciation to be adjusted as of January 31st. Which entry should be made

Respuesta :

The journal entry for recording the adjusted depreciation expense of $600 is given below:

On Jan 31

Depreciation expense Dr $600

     To Accumulated depreciation $600

(Being depreciation expense is recorded)

Here the depreciation expense is debited as it increased the expense and credited the accumulated depreciation as it decreased the assets.

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