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goods sold to mr x of rs5000/-,out of that we give him
discount allowed of rs 500/-,and we take setting charges of
rs1000/-.so what will be the entry?
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Answer Posted / jai
balance sheet
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mr. x ledger
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cash 5000.oo
discount 500.00
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dr. 4500.00
setting charges 1000.00
-------------------------------------------
clossing bal. 5500.00
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