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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Financial Accounting An Integrated Approach

ISBN: 9780170349680

6th Edition

Authors: Ken Trotman, Michael Gibbins, Elizabeth Carson

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