Aman Limited (AL) purchased goods worth 3,20,000 and 1,80,000 from Rajiv Limited (RL) on cash

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Aman Limited (AL) purchased goods worth ₹ 3,20,000 and ₹ 1,80,000 from Rajiv Limited (RL) on cash and for one-month credit, respectively. AL accepted a bill of exchange of two months’ duration for ₹  2,00,000 in favour of Dilip Limited (DL). Do these transactions result in financial assets and liabilities?

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Financial Accounting

ISBN: 9780071078023

1st Edition

Authors: Dhanesh K. Khatri

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