Sep 14, 2020 — Single entry system is an incomplete form of recording financial transactions.. It is the system, which does not record two aspects or accounts of all ...
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The consignee passes no entry in his books for unsold stock of the consignor, lying with him.
Discount on bills discounted is debited on profit and loss account ...
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Feb 2, 2011 — Single entry system is must suited where: (a) Cash transactions are many (T) (b) Credit transactions are many.(c) Cash ...
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