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A car valued at $30,000 has $600 of depreciation to be adjusted as of January 31st. Which entry should be made? Debit Accumulated Depreciation, Credit

A car valued at $30,000 has $600 of depreciation to be adjusted as of January 31st. Which entry should be made?

  • Debit Accumulated Depreciation, Credit Car, both for $600

  • Credit Accumulated Depreciation, Debit Depreciation Expense, both for $600

  • Debit Accumulated Depreciation, Credit Depreciation Expense, both for $600

  • Debit Car, Credit Depreciation, both for $600

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