The depreciation adjusting entry includes a debit to Depreciation Expense-Office Equipment and a credit to

Question

Quizplus · Accepted Answer

The correct adjusting entry for recording depreciation includes a debit to Depreciation Expense-Office Equipment to recognize the expense and a credit to Accumulated Depreciation-Office Equipment to accumulate the total depreciation over time. This does not reduce the original cost of the asset on the balance sheet but shows the total depreciation taken against it.

The Depreciation Adjusting Entry Includes a Debit to Depreciation Expense-Office