Sales account will have a HomeFinancial Accounting MCQsSales account will have aQ. Sales account will have aA. debit balanceB. credit balanceC. either a debit or a credit balanceD. no balanceAnswer: credit balance
Rohit carrying on real estate business sold a piece of land for Rs.4,00,00,000 (cost Rs.3,50,00,000) then the type of receipt is nature and profit on sale is