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Answer Posted / babhu kanchupalli
Depreciation is the continuous decrease in the value of an asset.....due to usage,wear and tear,efflux of time.....
It is an expense to the business.....so according to the nominal accont....we should debit it to the respective asset....the is as below......
Depreciation account. Dr
To Respective asset account
(Being depreciation provided)
For accumulated depreciation.....
Depreciation account. Dr
To Accumulated depreciation account
(being depreciation provided(2nd year))
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