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what is journal entry to make- provision for liablities and
provision for assets
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Answer Posted / shankar. c
Dr EXPENDITURE AND CR PAYABLES
EX AUDIT FEES 10000 DR
AUDIT FEES PAYABLE 10000 CR
(JOURNAL FOR LIABILITY)
DR TDS RECEIVEBLE 10000
CR INDIECT INCOME 10000
JOURNAL FOR ASSETS
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Harpithas due Rs 55000 was settled infull by taking Haris due Rs 12500 in adjustment Pass necessary entry
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