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I overstated my depreciation expense for 2008 by $30,000. How do I post a journal entry to correct it on my 2009 income statement?


ANSWER


The BIDaWIZ Team's Answer:

You will debit the accumulated depreciation account, by $30K,

and you will credit the depreciation expense account, by $30K.

The BIDaWIZ Team

 

 

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