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Packing Materials Treatment
Sir,What is the accounting entry for Packing Material purchased and consumption,keeping stock of packing material. As textile concern like jute bags,Printed logo bags,covers,etc.
Replies (2)
Purchase Dr.
To Bank/Cash/Creditor
There will be no entry for consumption, you can deduct no. of units of packing material consumed from stock quantity.
To Bank/Cash/Creditor
There will be no entry for consumption, you can deduct no. of units of packing material consumed from stock quantity.
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