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How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
Perth Ltd acquired 80% of the share capital of Summer Ltd on 1 July 2011. The following equity balances appeared in the records of Summer Ltd at the date of acquisition: Share capi
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Firstly, clear mark or file all barter income and expense documents as "bartering," and retain all original source documents pertaining to your barter transactions. You are require to credit - Bartering Income and then debit the expenses for the services your company received.
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