Sale of periodicals & sale of sports material
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°° Sale of Old Periodicals °°
(a) The amount received from the sale of old periodicals are shown on the debit side of the Receipts and Payments Account.
(b) As the sale of old periodicals by any organisation is considered as revenue receipts, so it is shown on the credit side of the Income and Expenditure Accounts
°° Sale of Sport Materials °°
(a) The amount of received from the sale of sports material are debited to the Receipts and Payments Account.
(b) As the sale of sport materials by any sport club is considered as revenue income, so it is shown on the credit side of the Income and Expenditure Account.
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noun. a magazine or other journal that is issued at regularly recurring intervals
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