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goods lost by fire rs10000 & insurance claim received for
the same rs8000.what are the effect of this entry in final
accounts?
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Answer Posted / anil ray
when goods lost on fire
Goods lost a/c dr
To purchase a/c
When insurance co. Admit claim
Proft/loss a/c dr
Insurance co. A/c dr
To purchase a/c dr
When full claim received
Bank a/c dr
To purchase a/c
| Is This Answer Correct ? | 1 Yes | 4 No |
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