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