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Question:

Can anybody knows the Journal entry of purchase Plant & Machinery?

Can anybody knows the Journal entry of purchase Plant & Machinery?

Answer:

Are you kidding! Even the non commerce guys can answer this one. Its. Plant Machinery A/c Dr. and Cash/Bank/Supplier A/c Cr. --------------------------------------...
Debit Plant Machinery A/c and Credit with either Cash/Bank or Creditor's Account
They are fixed assets/plant assets. The assets include equipment, machinery, buildings, and land. They all depreciate over a period of time except land.

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