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Accounting for branch

In case of goods invoiced at wholesale price, The goods sent to branch at invoice price does not have a contra entry to record the loading value on goods sent ..why??

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priyanshu tulsyan

priyanshu tulsyan

CA Inter

0

29-Oct-19

302

Answers (2)

First of all, it's not a contract entry, it's adjustment entry to reverse loading amount. And the entry is recorded in stock reserve account but not in stock account in this answer


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