Colorado Company purchased a machine for $280,000 in cash on August 1, 20X1. The machine has an estimated useful life of 10 years and an estimated salvage value of$22,000. Colorado Company uses the straight-line method for computing depreciation expense.

Which ONE of the following is included in the journal entry necessary to record depreciation expense on the machine for the year 20X2?

Group of answer choices

A CREDIT to Accumulated Depreciation for $33,300

A CREDIT to Accumulated Depreciation for $37,300

A CREDIT to Accumulated Depreciation for $51,600

A CREDIT to Accumulated Depreciation for $25,800

A CREDIT to Accumulated Depreciation for $18,300

Answer rating: 100% (QA)

Solution Correct option is D A CREDIT to Accumulated depreciation for 25800 Explanation Depreciatio... View the full answer