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A/c entry

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ARTICLE ASSISSTANT

[ Scorecard : 253]
Posted On 13 April 2012 at 11:24 Report Abuse

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?



yash shah
Internship

[ Scorecard : 87]
Posted On 13 April 2012 at 11:37

yup.... you can consider it as discount allowed... or else part payment

 




Bhargav K
Senior Associate/Articled assistant

[ Scorecard : 39]
Posted On 13 April 2012 at 11:41

U will have to pass the following entry

Debit : Weigment loss a/c   Dr

Credit : Debtor A.c



yash shah
Internship

[ Scorecard : 87]
Posted On 13 April 2012 at 11:47

bhargav can you explain your entry... i didnt got you

 


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