Inventory a/c Dr GRIR a/c cr GRIR a/c Dr Vendor a/c cr vendor a/c D

What is GR/IR account? Why do you maintain that? Explain the
importance of GR/IR clearing account.

Question Posted / rajakumara hg

Answer Posted / rajakumara hg

Inventory a/c Dr
GRIR a/c cr

GRIR a/c Dr
Vendor a/c cr

vendor a/c Dr
Bank a/c cr

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3 Yes

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