Answer Posted / prasad
a)When Goods are sent on Consignment
In Consignor Books
Consignee A/c Dr
Consignment Sales A/c Cr
When Amount received against Consignment Sales
Cash/Bank A/c Dr
Consignee A/c Cr
At End of the Year
Unsold Stock at consignee to be considered in Consignor
books as closing Stock under current assets
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