John brought in an additional plant into his business. What are the accounting e...
QuestionJohn 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
The correct answer is E.
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