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From the following, prepare Profit and Loss Account of Sohan Lal as it would appear in the 1st year that ended 31st March,

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From the following, prepare Profit and Loss Account of Sohan Lal as it would appear in the 1st year that ended 31st March, 2018:The Gross Profit was 45% of sales, which amounted to Rs. 6,50,000.

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Profit and Loss Account for the year ended March 31,2018

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