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Illustration

The following information has been extracted from the books of Akinbode Enterprises as of 31st December 1990.

 N

Sales

50,000

Opening Stock

5,000

Purchases

20,000

Returning Outwards

1,000

Closing Stock

2,500

Carriage Inward

2,500

Return Inwards

2,500

You are required to prepare the trading account.

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Evaluation Questions

1. Explain Trading Account

2. List and explain five (5) Trading Account items.

3. Prepare Trading Account

Responses

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