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Do we record cash remitted to headoffice in branch account under debtor system? |
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Answer» tion:The branch is not ALLOWED to make any EXPENSES except some petty expenses for which a PETTYCASH Book is maintained by the branch to keep records. ... in addition to above, a stock statement is prepared by thebranch which is remitted to HEAD Office stating all the information RELATING to goods received, sold and unsold. |
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