406 Rental revenue 300 612 Depreciation expense-Equip 622 Salaries expense 637 Insurance expense 1,400 640 Rent expense 1,000 652 Supplies expense 690 Utilities expense 305 $45,300 $45,300 Totals es Knowledge Check 01 Assume that the Accumulated Depreciation account has an unadjusted normal balance of $120,000. The company's list of adjusting entries includes one that debits Depreciation Expense and credits the Accumulated Depreciation account for $20,000. The adjusted balance in the Accumulated Depreciation account is a: credit balance of $140,000 debit balance of $120,000 credit balance of $120,000 debit balance of $140,000 11 of 18 Next >