24 (4 points) A new accountant working for Metcalf Company records $800 Depreciation Expense on store equipment as follows: Depreciation Expense Accumulated Depreciation - Equipment The effect of this entry is to: Dr. Cr. 822 822 a) overstate total assets on the balance sheet as of December 31. b) overstate the book value of the depreciable assets at December 31. c) adjust the accounts to their proper amounts on December 31. d) understate the book value of the depreciable assets as of Decembe