1.method of computing depreciation and recognizes $17,000 of depreciation expense annually. When recording the sale, the company should record a debit to Accumulated Depreciation for:

Question

Quizplus · Accepted Answer

Since the company recognizes $17,000 of depreciation expense annually, over the course of 3 years, the total depreciation expense would be $51,000 (3 x 17,000 = 51,000). Therefore, when recording the sale, the company should debit Accumulated Depreciation for the total amount of depreciation recognized over the asset's useful life, which is $51,000. This means that the correct answer is B.

1Method of Computing Depreciation and Recognizes $17,000 of Depreciation Expense