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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationEasy

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What is the correct entry to record unrecorded electricity bill of ₹900?

Answer and explanation

Correct answer: Revaluation Account Dr and Electricity Bill Payable Account Cr

When an unrecorded liability is created Revaluation Account is debited. Credit the liability account.

Related tags

Unrecorded-Expense Journal-Entry Liability Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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