Rs 1000 paid for installation of a new machine is debited to Repairs account. Which accounts shall be debited & credited?

Machinery & Repairs

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Machinery & Installation expense

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Repairs & Machinery

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None of the above

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Solution

The correct option is A
Machinery & Repairs

Rectification entry shall be;
Machinery A/c Dr Rs 1,000
To Repairs A/c Rs 1,000

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