Out of this list what will go into a profit and loss account and what will go into a balance sheet? I want to see if what I did was right
wages
rates
insurance
ligh t and heat
cars running cost
stationary and postage
telephone
bank charges
entertaining
advertising
repa irs and maintenance
miscellaneous expence
trade debtors
cash at bank
petty cash
rent received
sales
bad debts
purchase
opening stock
trade creditors
lease of building at cost
cars at cost (depreciation)
fixtures and fittings (depreciation)
drawings
bank loan
capital
thanks for your help!
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