Loss of goods a/c Dr To Goods a/c (Being goods lost in fire) There sh

What will be the journal entry for good lost by fire. How
many entries will be passed in the books of account for the
same.

Question Posted / venkatesh

Answer Posted / venkatesh

Loss of goods a/c Dr
To Goods a/c
(Being goods lost in fire)

There shall be only one entry passed for this transaction.

Is This Answer Correct ?

11 Yes

12 No

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