Depreciation

Hi John-pero.

This is my second post.  When I checked my profile the original post showed "SOLVED"' which led me to question whether it actually was posted. Now that it is nearing yearend I am looking at our previous correspondence on depreciation and I am still struggling with the correct setup. For example, I have set up two accounts for "Dust Collectors".  One is 62811 "Depr & Amor - Dust Collectors".  The other is 17101 "Accum Depr - Dust Collectors". Let's assume that the total asset value is $900.00 and we depreciate the asset over 3 years giving us an annual depreciation amount of $300.00.  To create a journal entry at year end I would show a debit of $300 against 62811 ""Depr & Amor - Dust Collectors" and a credit of $300 against 17101 "Accum Depr - Dust Collectors".  If the foregoing is correct then am I to assume that the 17101 "Accum Depr - Dust Collectors" increases annually over 3 years until it matches the total asset value?  If so, is that all that is required?  Is there no connection to the original purchase of the dust collectors?  As I have humbly stated previously, I am not an accountant and I do appreciate your patience and assistance in getting this right.  Regards.