The adjusting entry to record depreciation on plant assets is:

a. debit the asset, credit depreciation expense

b. debit depreciation expense, credit accumulated depreciation

c. debit accumulated depreciation, credit depreciation expense

d. debit depreciation expense, credit the asset

The following is correct concerning the rules of debit and credit:

a. Capital and Drawing are increased by debits

b. Assets, Expenses, Drawing are increased by debits

c. Assets, Expenses, Drawing are increased by credits

d. Capital and Drawing are increased by credits