Ask Question
29 March, 02:38

The estimated amount of depreciation on equipment for the current year is $8,200. Journalize the adjusting entry to record the depreciation. If an amount box does not require an entry, leave it blank.

+1
Answers (1)
  1. 29 March, 02:51
    0
    Dr. Depreciation Expense Account $8,200

    Cr. Accumulated Depreciation $8,200

    Explanation:

    Depreciation is the expense that is charged from the fixed assets to the revenue. All the depreciation of the fixed asset are accumulated in a account of accumulated depreciation, which is contra asset account. the assets are reported on the balance sheet net of accumulated depreciation.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The estimated amount of depreciation on equipment for the current year is $8,200. Journalize the adjusting entry to record the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers