Gujarat BoardEnglish MediumSTD 11 CommerceAccountP1 C8 Journal Proper1 Mark
Question
Explain the transactions of inter-account transfer.
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Answer
Sometimes due to some reasons, the amount is to be transferred from one account to another account either partially or fully, such transfer is recorded in the journal proper. In the same way when an account is closed at the end of the year and transferred to another account the transfer entry is passed in journal proper.
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