A fixed assets fully written-down by a trader is now considered to be worth ₦5,000. The double entry required to reflect this is debit

A fixed assets fully written-down by a trader is now considered to be worth ₦5,000. The double entry required to reflect this is debit

A asset account credit purchase account

B asset account credit capital account

C capital account credit asset account

D capital account credit profit and loss account

Answer is B