Financial Accounting

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Moderate

Using Debits

FINACT-VCPLQ4

Able Construction Company purchased construction equipment at the beginning of the year for use on its numerous open projects. The journal entry to record the purchase of the equipment would include a debit to the ___________ account and the journal entry to record the depreciation of the construction equipment at the end of the year would include a debit to the ___________ account.

A

Equipment, Depreciation Expense

B

Equipment, Accumulated Depreciation

C

Cash, Equipment

D

Cash, Accumulated Depreciation