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Con's Espresso paid out the complete Con's Espresso paid out the entire volume owing on their account. Considering that Con's Espresso has become a faithful buyer from your working day of business enterprise commenced, a10% discount was provided for this early repayment.
Harmony sheet. This statement reviews the financial place of the organization at the end of June. It offers the belongings, liabilities and equity on the organization as at thirty June 2016.
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With this phase of your accounting cycle, you're requested to document closing entries in the overall journal and after that post them to general ledger accounts. This stage has to be completed to organize the accounts for another accounting period.
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