The Typhoon Company discovers an overstatement of depreciation in a prior year. What are the components of the journal entry required in the current year to correct this error?

Select one:

a.A debit to Depreciation Expense and a credit to Retained Earnings

b.A debit to Retained Earnings and a credit to Depreciation Expense

c.A debit to Depreciation Expense and a credit to Accumulated Depreciation

d.A debit to Accumulated Depreciation and a credit to Retained Earnings

e.A debit to Accumulated Depreciation and a credit to Depreciation Expense