A company records an entry to record $15,000 depreciation expense. Which of the following describes the...

A company records an entry to record $15,000 depreciation expense. Which of the following describes the entry? One Answer

	A.	Increase Property Plant and Equipment and increase Depreciation expense
	B.	Increase Depreciation expense and Increase Accumulated Depreciation- Property Plant and Equipment
	C.	Increase Property Plant and Equipment and Decrease Cash
	D.	Increase Depreciation expense and Decrease Cash

Solutions

Expert Solution

The correct option is B.

The journal entry is

Depreciation expenses ....Dr

To accumulated depreciation

Hence both the accounts increase.

jeff jeffy answered 1 year ago

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