पारंपरिक जर्नल प्रविष्टि पद्धति के तहत जब किसी स्थायी संपत्ति पर मूल्यह्रास लगाया जाता है, तो किस खाते को डेबिट किया जाता है?

The depreciation of fixed assets is recorded in accounting to:

Consider the following statements regarding Depreciation: 1. Depreciation represents a systematic allocation of the depreciable amount of an asset over its useful life. 2. Depreciation is charged only when the market value of the fixed asset declines below book value. 3. Depreciation is recorded as an expense in the profit and loss account. Which of the statements given above are correct?