During June 2022, your company recorded depreciation of $8,000 on equipment in your factory. What effect did this have on your companys accounting system?

The balance in the factory overhead account will increase, and the balance in the Accumulated Depreciation account will increase.

The balance in the depreciation expense account will increase, and the balance in the Factory Overhead account will increase.

The balance in the depreciation expense account will increase, and the balance in the Factory Overhead account will decrease.

The balance in the factory overhead account will decrease, and the balance in the Accumulated Depreciation account will increase.

The balance in the factory overhead account will increase, and the balance in the Accumulated Depreciation account will decrease.

The balance in the factory overhead account will decrease, and the balance in the Accumulated Depreciation account will decrease.