Dear All,
Please help by providing the solution. how we treat the replacement of product in terms of it's accounting.( In case of damage product replacement)
Regards
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Inventory
Replies (1)
On product given to the customer (stock adjustment )
1. Replacement exp A/c Dr. <Cost>
To Trading A/c <cost>
2. On loss charged to profit and loss a/c
Profit and Loss A/c
To Replacement exp a/c
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