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doubt regarding a scrap material adjustment
Purchased a two batteries an amount of 10000. In my books a material is showing a scrap material . The supplier has taken that material at 3500 what is entry in the books
Replies (1)
If batterier are goods to your business,
Purchases A/c DR XXXX
To Cash A/c XXXX
To sale of scrap A/C XXXX
If batteries are asset repalace purchases A/C with Batteries A/C.
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