At 31 December, Rashid gave the following details: - machinery at cost: $52\,000$ - provision for depreciation of machinery: $23\,000$ Depreciation for the year is worked out at $20\%$ on cost. After the statement of financial position had been prepared, it was discovered that machinery repairs costing $2000$ had been posted to the machinery account. What is the correct balance on the provision for the depreciation of machinery account?
- A$21\,000$
- B$22\,600$
- C$23\,400$
- D$25\,000$