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whats is the Journal entry for Telephone Expenses?
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Answer Posted / bharath kumar
Telephone expenses A\C dr
To cash\bank A\C
(this transaction is for the amt actully paid)
profit and loss A\C dr
To Telephone expenses A\C
(this is an actul epenses posting transaction)
because accounts deals with the concept of double entry
there should be proper transaction regarding it
refer basic accountancy book for further details
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