Frndzz plz suggest me what to be done in the following situation
A Debtor deducted payment on account of shortage while weighing at the Debtor's premises.
This deduction should be treated in what way?
Whether this is Discount allowed?
Frndzz plz suggest me what to be done in the following situation
A Debtor deducted payment on account of shortage while weighing at the Debtor's premises.
This deduction should be treated in what way?
Whether this is Discount allowed?
yup.... you can consider it as discount allowed... or else part payment
U will have to pass the following entry
Debit : Weigment loss a/c Dr
Credit : Debtor A.c
bhargav can you explain your entry... i didnt got you
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