A new accountant working for Novak Corp. records $980 Depreciation Expense on store equipment as follows: Dr. Cr. 1003 Depreciation Expense.. Accumulated Depreciation- Equipment 1003 The effect of this entry is to: O adjust the accounts to their proper amounts on December 31. O understate total assets on the balance sheet as of December 31. O understate the book value of the depreciable assets as of December 31. O overstate the book value of the depreciable assets at December 31