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The debts are treated as expenses in the profit and loss account, being entered on the debit side of the income statement coloums.
The bank should notify the account holder that the account has been levied by a judgment holder. Also, the account holder/judgment debtor should have received a final notice of judgment citing the action the judgment creditor is taking.
final statements are trading account,profit and loss account,balance sheet.
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i don't no. please give answer.