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journal entry of outstanding

Answer Posted / kaleem

The actual question is Journal entry for Outstanding ??

and the Answer is

Expenses(Audit fee) A/c ----Dr.
To Outstanding expenses (Audit fee)A/c---Cr

and at the time of clearing Outstandings..

Outstanding expenses(Audit fee) A/c----Dr.
To Cash/Bank A/c----Cr

Is This Answer Correct ?    3 Yes 0 No



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