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0021

Plant/Machinery Depreciation

Fixed Assets
Normal balance Credit

This is the accumulated depreciation account for Plant and Machinery — a contra-asset account sitting alongside the original asset cost to show its accumulated loss in value. Unlike most asset accounts, it normally carries a credit balance, increased each year by the depreciation charge (posted as an expense to code 8001) and reducing the asset's net book value on the balance sheet without altering its original cost.