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Goods worth Rs.347.60 has been destroyed. Ex:(parachute Hair
Oil 8 Ml, So entry will be..
Abnormal Loss A/c Dr....347.60
To Stock Destroyed A/c
How it possible????
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Answer Posted / pratik mishra
if no insurance : P/l a/c dr. or loss by fire a/c dr. (either)
to (Cr.) trading (stock a/c) or cr. purchase a/c (either)
if the goods are insured: insurance a/c dr. , to trading (stock) a/c
if the little amt. is insured: insurance a/c dr., p/l a/c dr., cr. trading (stock) a/c
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