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This is the third Chapter of our Accounts and Finance Course at teachoo.
We will learn how to pass Book Closure entries in this chapter.
The topics covered are
Expense and Expense Payable Entries Practice
Difference between Salary and Salary Payable
Profit on sale of fixed assets in Normal Depreciation
Loss on sale of Fixed Assets in Normal Depreciation
Profit on sale of fixed assets in Accumulated Depreciation Method
Loss on sale of Fixed Assets in Accumulated Depreciation Method
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