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At the time of admission of a partner, furniture is devalued at OMR 9,000. The Journal entry to record the devaluation will be: Debit Furniture

At the time of admission of a partner, furniture is devalued at OMR 9,000. The Journal entry to record the devaluation will be: Debit Furniture account Credit Partners Capital accountDebit Furniture account Credit Profit and Loss Appropriation AccountDebit Revaluation account Credit Furniture accountDebit Furniture account Credit Revaluation account



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