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what is the entry for accounts receivables and accounts
payables? what is the entry for bills receivables and bills
payables?

Answer Posted / pallavi

1)Purchased 2500Rs of bike parts on accounts payable in 30days
Bike parts A/c dr 2500
To A/P A/c 2500

2)Collected Rs425 from customers A/c

Cash A/c Dr 425
To Customers A/c 425

Is This Answer Correct ?    17 Yes 3 No



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