Sales made to Mahesh for cash should be debited to HomeFinancial Accounting MCQsSales made to Mahesh for cash should be debited toQ. Sales made to Mahesh for cash should be debited toA. Mahesh AccountB. Sales accountC. Cash accountD. Purchase accountAnswer: Cash account
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