Accumulated Depreciation Contra Account
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Accounting and Financial Statement Analysis
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Course Challenge - Build a P&L and a Balance Sheet from Scratch
I seem to remember back during my college days of learning accounting an accumulated depreciation account (which was a contra account). Wouldn't you have a Depreciation Expense (Debit: $20,000,000) on the Income Statement and an Accumulated Depreciation (Credit: $20,000,000) on the Balance sheet?
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I actually don't understand also the salvage value and the depreciation thing
