The Journal Entry To Record Depreciation On Factory Equipment Or Machinery Is To
The journal entry to record depreciation on factory equipment or machinery is to debit a depreciation on factory equipment or machinery expense account and a credit to Accumulated Depreciation Account for factory equipment or machinery. The entry to record is shown below: Depreciation on Factory Equipment or Machinery Expense a/c XXX Accumulated Depreciation - Factory Equipment or Machinery a/c XXX (Depreciation On Factory Equipment Or Machinery Recorded) Depreciation on Factory Equipment or Machinery Expense Account is recorded in Income Statement while Accumulated Depreciation - Factory Equipment or Machinery Account is a Contra Asset Account whic...