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The Typhoon Company discovers an understatement of depreciation in a prior year. What are the components of the journal entry tequired in the current year
The Typhoon Company discovers an understatement of depreciation in a prior year. What are the components of the journal entry tequired in the current year to correct this erres? Select one: a. A debis to Depreciation Expense and a credit to Accumulated Depreciation b. A debit to Fortained Eamings and a credit to Depreciation Expense c. A debit to Retained Eamings and a credit to Accumulated Depreciation d. A debit to Depreciation Expense and a credit to Retained Earrings: e. A debit to Accumulated Deprecistion and a credt to Depeeciation Experte Clear my choice
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