The Adjusting Entry to Record Depreciation Expense Accomplishes Which of the Following

question 54

Essay

The adjusting entry to record Depreciation expense accomplishes which of the following?
A) Records an expense
B) Updates a contra asset
C) Updates a liability
D) Both A and B

• A) Records an expense
• B) Updates a contra asset
• C) Updates a liability
• D) Both A and B

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