The debit balance of Trading Account. Answer in a word / phrase / term.
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☑️The debit balance of trading account is gross profit and gross loss .
☑️The debit balance of trading account is gross profit and gross loss .
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As per the question
Debit balance
The sales returns account has always a debit balance showing the total of the amount of goods returned by customers.
The net of the two amounts is called ' net sales' and is entered on the credit side of the Trading Account.of Trading Account :
All information about goods bought, sold and returned has to be gathered together in a statement is called trading account
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