If Hot Bagel Company estimates depreciation on an automobile to be $578 for the year, the company should make the following adjusting entry Multiple Choice Debit Automobile $578 and credit Depreciation Expense $578. Debit Depreciation Expense $578 and credit Accumulated Depreciation $578. Debit Depreciation Expense $578 and credit Automobile $578 Debit Accumulated Depreciation 5578 and credit Depreciation Expense $578