The Accumulated Depreciation account is shown on the balance sheet as a liability. 1. is a contra asset account with a credit balance. 2. is shown as an expense on the income statement. 3. is a contra revenue account with a debit balance.
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Home » Business » The Accumulated Depreciation account is shown on the balance sheet as a liability. 1. is a contra asset account with a credit balance. 2. is shown as an expense on the income statement. 3. is a contra revenue account with a debit balance.