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What is the journal entry to record depreciation expense?

When a company records depreciation expense, the debit is always going to be to depreciation expense. The offsetting credit will be to accumulated depreciation, which is a contra-asset (negative) on the balance sheet.

Property, plant, and equipment is recorded at their book value (i.e. cost), and you must include accumulated depreciation to understand what the net-book-value of property, plant, and equipment is on the balance sheet!

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