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What is Opening & Closing Entry

Answer Posted / earasathiru6

If u have openig stock of steel on 1st April that entry is

Steel A/c Dr
To Opening(Steel)/steel stock A/c
(Being steel stock on st April)
Closing entry for same stock on march
Closing steel (balance)stock A/c Dr
To Steel A/c
(Being steel closing stock on
march)

Is This Answer Correct ?    3 Yes 5 No



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