Why record depreciation expense by debiting the expense and crediting accumulated depreciation? Why not just credit the
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Why record depreciation expense by debiting the expense and crediting accumulated depreciation? Why not just credit the asset cost so that the balance sheet shows just the remaining undepreciated cost? (After all, the latter method is used for prepaid expenses.)
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Related Book For
Financial Accounting An Integrated Approach
ISBN: 9780170349680
6th Edition
Authors: Ken Trotman, Michael Gibbins, Elizabeth Carson
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