Multiple Choice
What would be the appropriate journal entry to adjust to the accrual basis of accounting for depreciation on general capital assets related to prior years?
A) Debit Depreciation expense, Credit Accumulated Depreciation.
B) Debit Accumulated Depreciation, Credit Net Position.
C) Debit Machinery, Credit Accumulated Depreciation.
D) Debit Net Position, Credit Accumulated Depreciation.
Correct Answer:
Verified
Correct Answer:
Verified
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