Q.3 Fill in the blanks: -
1. Capital is reduced by______
2. Rent paid will________
capital
3. Journal is a book of ______
4. Contra entries are made in______
book
5. Credit balance of nominal account represents_______
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1. Capital is reduced by Drawings.
2. Rent paid will decrease
capital
3. Journal is a book of financial transaction
4. Contra entries are made in cash
book
5. Credit balance of nominal account represents gains/profits.
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