If a Provision for Depreciation Account is in use, then the entries for the year's depreciation is:
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Question:
If a Provision for Depreciation Account is in use, then the entries for the year's depreciation is:
Select one:
a. Credit Profit and Loss Account, Debit Provision for Depreciation Account
b. Debit Asset Account, credit Profit and Loss Account
c. Credit Provision for Depreciation Account, debit Profit and Loss Account
d. Credit Asset Account, debit Provision for Depreciation Account
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