On July 1, 2001, a machine is purchased at a cost of $ 20,000.Before the 2001 books are closed you discover that an error caused by using an in correct residual value resulted in depreciation for the year being $200 too high.To correct this error you will record a second adjusting entry for depreciation that will include

a. a $200 debit to Depreciation expense
b. a $200 credit to Asset-Machinery
c. a $200 debit to Accumulated Depreciation
d. none of above

On July 1, 2001, a machine is purchased at a cost of $ 20,000.Before the 2001 books are closed you discover that an error caused by using an in correct residual value resulted in depreciation for the year being $200 too high.To correct this error you will record a second adjusting entry for depreciation that will include

a. a $200 debit to Depreciation expense
b. a $200 credit to Asset-Machinery
c. a $200 debit to Accumulated Depreciation
d. none of above

c.

c.

Can you please explain, why Accumulated depreciation should be debit and C option is correct?