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What the Journal entry for Amortization

Answer Posted / babhu kanchupalli

1.Amortization a/c Dr
To. Intangible asset a/c
(Being amortization made)

2.Profit&Loss a/c Dr
To Amortization a/c
(Being amortization tranfered to P&L a/c)

Is This Answer Correct ?    5 Yes 1 No



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