Question: There is only one correct answer to this question. Which of the 4 is correct? A new accountant working for Swifty Corporation records $610 Depreciation

There is only one correct answer to this question. Which of the 4 is correct?

A new accountant working for Swifty Corporation records $610 Depreciation Expense on store equipment as follows: Dr. Cr. Depreciation Expense.. 625 Accumulated Depreciation- Equipment 625 The effect of this entry is to: O understate the book value of the depreciable assets as of December 31. O adjust the accounts to their proper amounts on December 31 O understate total assets on the balance sheet as of December 31 overstate the book value of the depreciable assets at December 31. Click if you would like to Show Work for this question: Open Show Work

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