If Hot Bagel Co. estimates depreciation on an automobile to be $578 for the year they should make the following adjusting entry:
A) Debit Accumulated Depreciation $578 and credit Depreciation Expense $578.
B) Debit Depreciation Expense $578 and credit Automobile $578.
C) Credit Accumulated Depreciation $578 and debit Depreciation Expense $578.
D) Debit Automobile $578 and credit Depreciation Expense $578.
Correct Answer:
Verified
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