What are the types of the Balance sheets ?
Answer Posted / priya
there r 2 tyhpes of b/s 1) horizontal b/s 2) vertical b/s
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Lets suppose X sold goods to Y on credit basis and after the due date is over Y could not make the payment due to Y became insolvent, so In X books he will show the uncollectible as Bad debts expense but in Y account under which account Y will show this while journalizing this transaction in his books of accounts?
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