machine of rs 18000 purchase on credit from ABC Ltd. state it debit and credit with reason
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Answer:
Machine A/C debited and ABC Ltd. A/C is credited.
Explanation:
Machine A/C is debited because according to modern rule asset is increased and ABC Ltd. A/C is credited because creditor(liability) is increased.
It can be solved with the help of Golden Rule also.
I hope it will be helpful........
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