Question

Octroi entry in profit and loss account

Answer 1

Answer:

debit side

Explanation:

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Answer 2

Octroi recorded in the debit side of profit and loss account

Explanation:

Journal entry

Octroi       ac         DR        

To  profit and loss     ac          CR

Octroi is a local tax collected for consumption on various items brought to a district. Contents. 1 Ancient times; 2 Middle Ages; 3 Agricultural taxes; 4 Current; 5 Notes ...

in simply it is a tax expense like:

Tax levied on various goods entering a town or city in some countries.

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