What is the correct journal entry for recording the depreciation of a machine with an annual depreciation expense of \$3,000?

• A. Debit Depreciation Expense \$3,000; Credit Accumulated Depreciation \$3,000
• B. Debit Machinery \$3,000; Credit Cash \$3,000
• C. Debit Accumulated Depreciation \$3,000; Credit Depreciation Expense \$3,000
• D. Debit Cash \$3,000; Credit Machinery \$3,000

Answer: (A)