Offset by contra is accounted for by: (a) A debit in the Trade payables control and a
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Offset by contra is accounted for by:
(a) A debit in the Trade payables control and a credit in the Trade receivables control accounts
(b) A debit in the Trade receivables control and a credit in the Trade payable control accounts
(c) A combination of entries stated in (a) above as well as in (d) below
(d) A debit and a credit respectively in the account of the particular customer appearing in the Trade receivables and in the Trade payables ledger
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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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