Where do I place my stock on hand in my trial balance.
Which account to I debit and credit for this transaction.
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Where do I place my stock on hand in my trial balance.
Which account to I debit and credit for this transaction.
Stock on hand will b on Debit side of trial balance.
In inventory account it will be debited.
What kind of stock?
Common Stock has a normal Credit Balance and is an Owners' Equity Account
Inventory has a normal Debit Balance and is a Current Asset
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