On January 1, 2019, Parent Corporation transferred equipment to its 70% owned subsidiary for $84,000 cash. The equipment had a 10-year life (six of which remain with no salvage value). At the date of transfer, Parents records carried the equipment at a cost of $120,000 less accumulated depreciation of $48,000. Straight-line depreciation is used. For consolidation purposes at December 31, 2019, what net debit or credit amount adjustment should be made to accumulated depreciation related to the intercompany transfer?

		Credit accumulated depreciation $46,000.
		Credit accumulated depreciation $2,000.
		Credit accumulated depreciation $34,000.
		Debit accumulated depreciation $34,000.