Accountancy, asked by kavita6444, 1 year ago

goods sold to jacket for 5000 and received a bill receivable for the same amount of this month

Answers

Answered by manish2808
2
Journal entry would be:

Bills receivables Account Dr. 5,000
To Sales Account 5,000


In accounting equation, profit percentage is not given hence assuming that goods were sold on cost.

Equation would be:
Add Bills receivables on assets side and reduce stock on assets side.

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