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Sinking Fund

What is the j...

Question

What is the journal entry for transfer of amount to sinking fund?

A

None of these

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B

Sinking fund a.c

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C

Profit & loss a/c

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D

Debentures a/c

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Solution

The correct option is B
Sinking fund a.c

The journal entry for transfer of amount to sinking fund-
Profit or Loss A/c Dr.
To Debenture Redemption Fund A/c

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