The accumulated depreciation account is: A. Is an expense recorded in the income statement B. Is contra asset account recorded in the balance sheet The machine was $40, 000. The company should recognized A. $0 gain or loss B. $20, 000 gain C. $20, 000 loss D. $40, 000 loss A company purchased equipment valued at $200, 00 life of six years. The equipment is estimated to have a method of depreciation, what is the annual depreciation A. $30, 000.00 The accumulated depreciation account is: A. Is an expense recorded in the income statement B. Is contra asset account recorded in the balance sheet The machine was $40, 000. The company should recognized A. $0 gain or loss B. $20, 000 gain C. $20, 000 loss D. $40, 000 loss A company purchased equipment valued at $200, 00 life of six years. The equipment is estimated to have a method of depreciation, what is the annual depreciation A. $30, 000.00