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Question what is goods in transit and how to pass an entry


 Question Asked In Companies :: SK Industries,     < I also faced this Question! >
 Question Submitted By :: guest
  Answer Posted By  
 
Answer
1 For booking purchase entry

Purchases a/c -----dr (PL)
To Creditors (BS)

2 For Stock entry

GIT Inventory a/c -----dr (BS)
To GIT Inventory (PL)

Is This Answer Correct ?    7 Yes 14 No


 
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