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SALES DISCOUNTS AND CASH RECEIPTS JOURNAL SALES DISCOUNTS Sales discount is recorded as a reduction in sales revenue. CASH RECEIPTS JOURNAL Source documents: ca
Q. Show Advantages and disadvantages of LIFO? The advantages of the LIFO method are based on the fact that prices have risen almost constantly for decades. LIFO supporters clai
Part 1 (a) Name and describe the three concepts that form the basis of double entry bookkeeping, and explain how they form the basis of double entry bookkeeping. (b) How doe
Q. What do you mean by unearned revenue? A liability/revenue adjustment concerning unearned revenues covers situations in which a customer has transferred assets typically cash
Q. Responsibility of Senior accountant? As a senior accountant Tracy will be accountable for the day-to-day management of several audit engagements during the year. She will pl
it wont balance
what are the implications of applying accounting concepts wrongly
Q. Explain about debits and credits? Accountants utilize the term debit instead of saying place an entry on the left side of the T-account. They utilize the term credit for Pla
difference between credit and debit
formation of partnership and changes in constitution of parternship
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