Abnormal Losses such as stock destroyed by fire, goods lost intransit, loss on sale of fixed assets are recorded on the ______ side of the ______.

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Abnormal Losses such as stock destroyed by fire, goods lost intransit, loss on sale of fixed assets are recorded on the Debit side of the Profit and loss account. Explanation: Extraordinary expenses and abnormal losses, such as goods lost in transit, loss by fire, Cash defalcations, loss on sale of assets, etc., are debited to the profit and loss account.

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