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    Nikki4's Avatar
    Nikki4 Posts: 4, Reputation: 1
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    #1

    Mar 22, 2007, 06:48 AM
    Depreciation Expense
    Is the entry to record depreciation expense is decrease a long term asset and increases a contra long term asset?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Mar 22, 2007, 12:56 PM
    Is that a question?

    The JE to record depreciation would be:

    Debit Depreciation Expense (an I/S account) XXX
    Credit Accumulated Depreciation (a contra B/S account) XXX
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