Question

explain royalty and where it has to be posted in final accounts

Answer 1

HEY,

U R ANSWER ♠.....

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A PAYMENT MADE FOR THE USE OF PROPERTY , SUCH AS PATENT , COPYRIGHTED WORK, AND FRANCHISE THE AMMOUNT OF USUALLY USE A PERCENTAGE OF REVENUES OBTAINED IT USE.

AND IT IS RECORDED IN FINAL ACCOUNT :-

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DEBIT SIDE OF TRADING ACCOUNT..

HOPE U UNDERSTAND........^_^☺