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    Depreciation Expense

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    The entry to record depreciation expense:

    increases a contra long-term asset and decreases net income.
    decreases a contra long-term asset and decreases net income.
    decreases working capital and decreases net income.
    decreases a long-term asset and increases a contra long-term asset.

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    Solution Summary

    The solution explains the entry to record depreciation expense.

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