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Accounting treatment
An Air conditioner(A/c) distributor sells an A/c to its customer in exchange of their old A/c by giving them discount of 3k.
this old A/c's are sold/scrapped @ 4k or 5K.
so how the transaction to be recorded in books of accountss??
thanks in anticipation
Replies (1)
discount of 3K will be booked as expense at the time of sale. At the time of Scrap sale book income of 4k/5k.
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