purchased of goods from Ram rs.30000 and made partial payment of 20000 (Accounting equation)
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HE HAS PROFIT NOT LOSS...
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Sales are a part of everyday business, they can either be made in cash or credit. In a dynamic environment, credit sales are promoted to keep up with the cutting edge competition. Accounting and journal entry for credit sales include 2 accounts, debtor and sales. In case of a journal entry for cash sales, a cash account and sales account are used.
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