An account to be debited for goods damaged by fire
Answers
Answered by
0
Answer:
loss by firei hope that you like the answer so please mark as brainlist
Answered by
0
An account which will be debited when for goods damaged by fire is Loss by fire A/C.
Journal Entry which will be passed when goods are damaged by fire .
Loss by Fire A/C DR
To Purchase A/C
( Being goods damaged by fire )
NOTE - As when goods are damaged by fire and it is an expense and when expense increases it is debited and purchases are asset and it is reducing and when asset decreases they are credited.
Similar questions