journal,trading a/c nd profit&oss a/c, Accounting Basics

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Why to and by using in journal, trading a/c, p&l a/c and ledger?

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Glaser Services obtained 30% of the outstanding common stock of Nickels Company on January 1, 2008, by paying $864,180 for the 48,010 shares. Nickels stated and paid $0.50 per shar

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