what-is-the-correct-journal-entry-for-recording-the-depreciation-of-a-machine-wi

Question

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

Accepted Answer

Debit Depreciation Expense $$3,000; Credit Accumulated Depreciation 3$$,000

Answer

Debit Machinery $$3,000; Credit Cash 3$$,000

Answer

Debit Accumulated Depreciation $$3,000; Credit Depreciation Expense 3$$,000

Answer

Debit Cash $$3,000; Credit Machinery 3$$,000

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