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JAMB Accounts Principles of Accounts 2017 Paper
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Question : 33
Total: 49
The following appears in trading account except
sales
carriage outward
carriage inward
opening stock
Validate
Solution:
carriage outward: it is the cost of transporting goods from the company to the buyer. it is on debit side of the profit and loss account because it is an expenses incurred on distributing the goods to customer.
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