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Question
The accountant of a firm located the following error after preparing the trial balance. Rectify them assuming that there is a suspense account.
Machinery purchased for ₹ 3,500 was debited to the purchase account.
Solution
| Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| Machinery A/c Dr. To purchases A/c (Wrong debit rectified) |
3,500 |
3,500 |
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