(a) Explain the purpose of the two accounts:Depreciation Expense and Accumulated Depreciation.(b) What is the normal balance of each account? (c) Is it customary for the balances of the two accountsto be equal in amount? (d) In what financial statements, if any, will each account appear?

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Q: prepaid expenses

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A:

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.