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Saket Sambhav

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ADJUVA LEGAL® • 21d

Like when we paid Medial 1k for a whole year, its our ASSET. And its called PREPAID EXPENSE. as I have used only one month, 11 months service is still remaining with me. Every month I need to enter adjusting entry of around Rs. 83 in my P/L statement, showing it as expense. Similarly, my 'prepaid expense' which is an asset will be reduced by 83.

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