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6 November, 11:47

Demonstrate your knowledge of a depreciation adjusting entry by completing the following sentence. A depreciation adjustment would include a debit to (depreciation expense/accumulated depreciation/building) and (debit/credit) to (depreciation expense/accumulated depreciation/building).

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  1. 6 November, 13:08
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    A depreciation adjustment would include a debit to depreciation expense and credit to accumulated depreciation.

    Explanation:

    Depreciation expense - Reported on the income statement as any normal business expense.

    Accumulated depreciation - total depreciation of an asset on purchase recorded on the balance sheet.
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