Goods sold for cash rs 80000(cost of goods RS 50000)
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3
Journal entry
Cash A/c Dr 80000
To sales A/c 80000
(being sold for cash )
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Accounting equation
Decrease in stock by 50000
Increase in cash by 80000
Increase in capital by 30000
Therefore
Assets = capital + liabilities
30000 = 30000 + 0
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Cash A/C. Dr. Rs.80,000
To Sales A/C. Rs.80,000
(Being goods sold for cash)
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