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Sole trader

Q1

QuestionAnswer
How would you treat goods in transit Increase closing stock, purchases & creditors at cost price
How would you treat a bad debt recovered Increase debtors by the amount owed, increase bank by the amount received, show the bad debt recovered as a gain
Goods withdrawn by the owner Reduce purchases & increase drawings
How to remove investment interest out of patents Add the interest to the patents
Created by: Fionawallace
Popular Accounting sets

 

 



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