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What will be the journal entry for good lost by fire. How
many entries will be passed in the books of account for the
same.
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Answer Posted / vipul verma
Loss by fire A/C Dr
To Purchase A/C
Profit and Loss A/C Dr
To Loss by fire A/C
The above two entries will be passed.
| Is This Answer Correct ? | 382 Yes | 45 No |
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GOODS LOST BY FIRE 100 RS, INSURANCE MONY RECEIVED 120,40 PENDING FOR FINAL SETTLEMENT- Journal Entry
