Rashid gave the following details at 31 December. Machinery recorded 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 prepared, it was discovered that machinery repairs costing $\$2000$ had been entered to the debit of the machinery account. What is the correct balance in the provision for the depreciation of machinery account?
- A$\$21\,000$
- B$\$22\,600$
- C$\$23\,400$
- D$\$25\,000$