Answer Posted / bhavna

At the Time of Sale:

A's A/c Dr. 50000
To Sales A/c 50000
(Being Amt due towards sale of goods @$50 for $1000.)

At the Time of Payment:

Cash/Bank A/c Dr. 48000
Forex P&L A/c Dr. 2000

To A's A/c 50000
(Being Amt received against sale of $1000 goods @ $48)

pass journal entry for Prepaid insurance

1198

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1804

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What is the general classification of accounts that usually ledger account involve?

696

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Tell me what is the master account?

621

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619

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650

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655

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1296

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what are the voucher entries in tally for medical insurance

1864

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1469

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2085

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1650

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2601

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2817

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632

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