Recording Damage Inventory in Books of Account

A person conducts business of cell phone but unfortunately some cell phone is damage and are not able to sales. He recorded this loss in books of account through this below general entry of loss amount. Cost of sales account (Dr.) Inventory account (Cr.) Is the above entry correct or not? If not then tell how will you record this loss?

Asked by: khurram89 | Member Since Aug-2012 | Asked on: Aug 27th, 2012

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Recording Damage Inventory in Books of Account

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