Account 2020 JAMB Past Questions - Question 32: As part of the initial investment, a partner contributes office equipment that originally cost ₦ 20,000 and on which provision for depreciation of ₦12,500 had been recorded. If the partners agree on a valuation of ₦9,000 for the equipment, what amount should be debited to the office equipment account?

As part of the initial investment, a partner contributes office equipment that originally cost ₦ 20,000 and on which provision for depreciation of ₦12,500 had been recorded. If the partners agree on a valuation of ₦9,000 for the equipment, what amount should be debited to the office equipment account?