What contra account is used when recording and reporting the effects of depreciation? Why is it used?

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Fundamental Accounting Principles

ISBN: 978-0071051507

Volume I, 14th Canadian Edition

Authors: Larson Kermit, Tilly Jensen

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Question Posted: Mar 08, 2016 07:38 AM

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What contra account is used when recording and reporting the effects of depreciation? Why is it used?

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The accumulated depreciation contra account is used It is used to provide ...View the full answer

Fundamental Accounting Principles

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