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Sale of old furniture recordrd as sales a/c. recify it
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Answer / raju kumar
cash or bank a/c dr.
To sale a/c
if you are saller of furniture in that case you can do
entry as above. oterwise if that furniture was as a fixed
assets your rectify entry will be as under
sale a/c dr.
to furniture a/c
because time your furniture is as a fixed assets and this
case you can not treat as a normal sale.
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / gurumurthi javaji
cash a/c ...........Dr
To Old furniture a/c
why because according to Real a/c principle:
Debit what comes in , credit what goes out.
| Is This Answer Correct ? | 3 Yes | 1 No |
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