When accumulated depreciation is posted; thus lowering the booked value of a property; what is the offsetting entry. What entry will make the accounts balance.
Thanks
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When accumulated depreciation is posted; thus lowering the booked value of a property; what is the offsetting entry. What entry will make the accounts balance.
Thanks
You would:
Dr. Depreciation Expense (an Income Statement account)
Cr. Accumulated Depreciation (a Balance Sheet account)
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