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How can I pass the journal entry for Work in progress. I
would like to know that where should be the debit and
credit allocated in accounting system. eg. WIP debit will
be under asset a/c in balance sheet what about credit?
pls.help me



How can I pass the journal entry for Work in progress. I would like to know that where should be t..

Answer / dinesh

WIP a/c dr
creditor a/c cr

at the time of capitalisation

asset a/c dr
wip a/c cr

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