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Question

Furniture purchased from ABC Ltd. for Rs.10,000 was wrongly entered in journal as Rs.1,00,000. To rectify the same, account shall be credited

A
Furniture
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B
Cash
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C
Suspense
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D
ABC Ltd.
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Solution

The correct option is A Furniture
Furniture account has excess debit of Rs. 90,000 (1,00,000 - 10,000). To rectify the same, the furniture account is credited by Rs. 90,000.

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