On January 1, 2016, BelgianAir purchases an airplane for €14,400,000. The components of the airplane and their useful lives are as follows: 
BelgianAir uses the straight-line method of depreciation. The asset is assumed to have no salvage value. Under US GAAP, the entry to record depreciation expense on the asset at December 31, 2017 will include
A) a credit to accumulated depreciation of €1,200,000.
B) a debit to depreciation expense of €1,440,000
C) a debit to depreciation expense of €780,000.
D) a credit to accumulated depreciation of €600,000.
Correct Answer:
Verified
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