Continue wih my above question
But since entry is to be passed in tally then in whcih group i show the trading a/c.
Thanx in advance
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What should be entry
Replies (2)
Entry shoud be
normal loss a/c Dr. 45
To Stock a/c 45
P&La/c Dr. 45
To Normal loss a/c 45
Normal loss should not be transferred to PL...it should be included in the valuation of inventory. See AS-2.
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