In 2016,internal Auditors Discovered That Fay,Inc

Multiple Choice

In 2016,internal auditors discovered that Fay,Inc. ,had debited an expense account for the $700,000 cost of a machine purchased on January 1,2013.The machine's useful life was expected to be five years with no residual value.Straight-line depreciation is used by Fay.The journal entry to correct the error will include a credit to accumulated depreciation of:

A) $140,000.
B) $280,000.
C) $420,000.
D) $700,000.