Assigning natural account to accounting seg. What will happen
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We had purchased 100 Electrodes @ Rs 20/- Each. After a year we found 2 Electrodes is missing by physical Count. My Question is what journal entry should we passed against missing of 2 electrodes.
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In the Manufacturing IF QC reject the material. Then where to record rejected material amount.
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What will be the journal entry for advance payments made to the other parties?
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