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When goods are sold on credit debtor will pay amount later.
Sold goods on credit in accounting equation. 25000 iv Paid salaryRs. Withdrew for personal use. The sales amount include only sale of goods NOT the sales of fixed assets.
Journal entry for sold goods on credit. 80000 ii Purchased goods for cashRs. Assets equal to capital.
200 iv Rahim purchased goods on credit Rs. Double-entry accounting is a system where every transaction affects both sides of the accounting equation. Sep 26 2018.
Sell goods on credit. Sell services on a credit. However the assets may be contributed by someone else who is not the owner.
Goods Sold Sales Returned Discount Allowed in Expanded Accounting Equation Goods sales. Show the accounting equation. I Rahim started business with cash Rs.
ABC Company sell goods for 55000 on credit. Purchased goods on credit. 2000 and salary outstanding Rs.
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