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Journalizing depreciation expense is the allocation of cost of a fixed asset to expense as the asset loses its usefulness. The expense is not directly
Journalizing depreciation expense is the allocation of cost of a fixed asset to expense as the asset loses its usefulness. The expense is not directly deducted from the cost of the asset because of the cost principle and the estimate nature of depreciation. Which of the following accounts do we use in the balance sheet to accomplish this?
1. supplies expense
2. unearned revenue
3. accumulated depreciation
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