What is the journal entry for posting depreciation and expenses?

Depreciation journal entry records the reduction in asset value over time, impacting financial statements.

• Debit Depreciation Expense account to reflect the cost of using the asset.

• Credit Accumulated D...read more

Depreciation a/c Dr

To cash a/c

Depreciation account debit

To fixed assets account

Depreciation account debit

To asset account

Debit: Depreciation Expense

Credit: Accumulated Depreciation