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Waren acquired a fixed asset on November 30 of the current year. The asset cost $12000 and has a 5 year life with no salvage.

Waren acquired a fixed asset on November 30 of the current year. The asset cost $12000 and has a 5 year life with no salvage. Waren uses straight line depreciation and follows the half year convention. The year end adjusting entry to record depreciation for this asset should include a:

A: Debit to Accumulated Depreciation for $2000

B: Credit to Accumulated Depreciation for $1200

C: Credit to Accumulated Depreciation for $2400

D: Debit to Accumulated Depreciation for $2400

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