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Profit and loss account
Accountancy
Why payment to creditors , receipt from debtors and drawings are not shown in profit and loss account..
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Best Answer
Creditors and debtors have done there transactions in last year or we can say in past and we prapare Profit and Loss Account for that particular years only, not for past year. We show incomes and expenditures or profit and loss in P & L and drawing is neither profi and incomes nor Expenses and Loss
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