Question

12) Sold machinery for
Rs 5000 journal entry
​

Answer 1

Answer:

Bank A/C -Dr                  5,000

   To Machinery A/C                     5,000

Explanation:

Bank account is debited because cash at bank is an asset and increase in assets is debited, according to rules of accounting.

Machinery Account is credited because machinery, an asset,  is being reduced and decrease in asset is credited, according to the rules of accounting.