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John brought in an additional plant into his business. What are the accounting entries necessary...

Accounts - Principles of Accounts
WAEC 1994
John brought in an additional plant into his business. What are the accounting entries necessary to reflect the transaction?
  • A. debit plant account, credit current account
  • B. debit current account, credit plant account
  • C. credit plannt account, credit profit and loss account
  • D. debit profit and loss account, credit plant account
  • E. debit plant account, credit capital account
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Correct Answer: Option E
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