Use the Following Information for Questions

Use the following information for questions.
Simpson Company applies revaluation accounting to plant assets with a carrying value of $800,000, a useful life of 4 years, and no salvage value.Depreciation is calculated on the straight-line basis.At the end of year 1, independent appraisers determine that the asset has a fair value of $750,000.
-The journal entry to record depreciation for year one will include a

A) debit to Accumulated Depreciation for $200,000.
B) debit to Depreciation Expense for $50,000.
C) credit to Accumulated Depreciation for $50,000.
D) debit to Depreciation Expense for $200,000.