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What is the entry for Good will payment? (received money
for Good will)

Answers were Sorted based on User's Feedback



What is the entry for Good will payment? (received money for Good will)..

Answer / narayan jee

bank a/c................Dr.
to goodwill a/c

Is This Answer Correct ?    6 Yes 2 No

What is the entry for Good will payment? (received money for Good will)..

Answer / sangeethag

If not recognized Good will as asset before the payment entry
to be recorded as follows:

Bank Dr. *****
To Goodwill (Income P&L) *****

Is This Answer Correct ?    4 Yes 1 No

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