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ACCOUNTING FOR LOSS BY ACCIDENT

This query is : Resolved 

Dear Team,
I am working in a Chemical Industry, we made one sale of Hexane to party but the party met an accident and few quantity find in good condition and remaining qty we lost. So the qty which is in good condition delivered to the party. So i would like to know how we will make accounting entry for the same.

Account it as loss in transit and reverse ITC availed on it.



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