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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 / kewal
Goods lost by fire a/c 1000
insurance a/c 2000
To purchase/Goods a/c 3000
( first of all loss debit, insurance or insurance receive is like cash receive so debit n purchase is definately credit.
| Is This Answer Correct ? | 7 Yes | 2 No |
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