Business, 13.01.2022 01:40, joooosshhhh

How to record VAT PAYABLE in the following account equation 1. Purchased stock from Nadiya at cost $400000
2. Purchase return to Nadiya at cost $40000

VAT rate is 10%

Equation is as follows

Capital+ Retain Profit + Trade Creditors + Vat Payable = Inventory + Trade Debtors + Cash

Answers: 1

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How to record VAT PAYABLE in the following account equation 1. Purchased stock from Nadiya at cost...