If XYZ Co. estimates depreciation on an automobile to be $578 for the year, the company should make the following adjusting entry: A. Debit Depreciation Expense $578 and credit Accumulated Depreciation $578. OB. Debit Accumulated Depreciation $578 and credit Depreciation Expense $578, C. Debit Depreciation Expense $578 and credit Automobile $578. OD. Debit Automobile $578 and credit Depreciation Expense $578