Financial Accounting
Is Depreciation expense recorded in the General Journal?
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No, depreciation expense is not recorded in the General Journal. Depreciation expense is usually recorded in a separate journal known as a Depreciation Journal or a Fixed Assets Journal. This ledger is used to track the value of fixed assets over time as they depreciate in value. In the General Journal, the only entry that could be made would be the debit to the Accumulated Depreciation account and the credit to an equity account.
