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how do we pass the Entry for Depreciation?

Answer Posted / gulzar

First Entery

asseset a/c Dr.
Depreciatin a/c Cr.
(Being depreciating charged on assets)

Second Entery

Depreciatin A/c Dr.
P&L A/c
(being depreciation t/f to profit and loss ac)

Is This Answer Correct ?    2 Yes 7 No



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