What is the correct journal entry for depreciation charged on machinery?
A. Debit Machinery A/c, Credit Depreciation A/c
B. Debit Depreciation A/c, Credit Cash A/c
C. Debit P&L A/c, Credit Machinery A/c
D. Debit Depreciation A/c, Credit Machinery A/c
Answer: Option D
Solution (By JKSSB Mock Tests)
Depreciation is an expense (Debit), and it reduces the value of the asset, so Machinery Account is credited.
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