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Depreciation Expense
An accounting method of allocating the cost of a tangible asset over its useful life, representing how much of the asset's value has been used up.
Accumulated Depreciation
The total amount of depreciation expense that has been recorded against a fixed asset over its useful life.
Adjusting Journal Entry
A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate years.
Accrual
An accounting principle that recognizes revenues and expenses when they are incurred, regardless of when cash transactions occur.
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