When a company discards machinery that is fully depreciated, this transaction would be recorded as a
A) debit to Accumulated Depreciation and credit to Machinery
B) debit to Machinery and a credit to Accumulated Depreciation
C) debit to Cash and a credit to Accumulated Depreciation
D) debit to Depreciation Expense and a credit Accumulated Depreciation

Question

Quizplus · Accepted Answer

When machinery is fully depreciated and discarded, the accumulated depreciation account is debited to remove the depreciation, and the machinery account is credited to remove the asset from the books.

When a Company Discards Machinery That Is Fully Depreciated, This