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What is the journal entry of Credit balance of Gopal rs 25000

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User Ssasa
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To record Credit balance of Gopal:
Gopal (Liability/Equity Account) 25,000
Cr. (Credit)



This entry reflects an increase in the credit side of the Gopal account by Rs 25,000. If this credit balance represents revenue, then it might affect the income statement differently. Always consult your specific accounting policies and practices to determine the appropriate journal entry for your scenario.
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User Nathan Gonzalez
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