The entry to record depreciation includes a credit to:
A)the Depreciation Payable account.
B)the Cash account.
C)the Accumulated Depreciation account.
D)the Depreciation Expense account.

Question

Quizplus · Accepted Answer

When recording depreciation, a credit entry is made to the Accumulated Depreciation account. This represents the total amount of accumulated depreciation on the asset(s) being depreciated up to that point in time. The debit entry would be made to the Depreciation Expense account to reflect the current period's depreciation expense.

The Entry to Record Depreciation Includes a Credit To