The entry to record the adjustment for depreciation on equipment would be a debit to Depreciation Expense-Equipment and a credit to Equipment.

Name: The entry to record the adjustment for depreciation on equipment would be a debit to Depreciation Expense-Equipment and a credit to Equipment.
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Question

Quizplus · Accepted Answer

The correct entry to record the adjustment for depreciation on equipment would be a debit to Depreciation Expense-Equipment and a credit to Accumulated Depreciation-Equipment, not directly to the Equipment account.

The Entry to Record the Adjustment for Depreciation on Equipment