Answer / abdul bari

Financial accounting is the reporting of financial
information to people outside of the business whereas Cost
accounting is done primarily for management inside the
business. It consists of determining the cost of producing
a product or a service.

Anand put Hire charges bill for Rs 185250. During the course of work we supplied diesel worth Rs 25360,paid driver battas of Rs 1050.Pl pass journal entry by taking security deposit @ 5% and TDS @2.25%as deductions from bill

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