Hi,
Credit Note received from Supplier against prior year expense, accounting entry plz.
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Credit note from supplier against prior year expense
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Please elaborate your question Originally posted by : Riya |
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Hi, Credit Note received from Supplier against prior year expense, accounting entry plz. |
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ThanQ
Ex.
FY-2012 (bill paid)
Freight Outwart 1500 Dr
Bank 1500 Cr
FY-2013 (CN recd from customer against above)
Customer 500 Dr
Retained Earning 500 Cr or Provision A/c 500 Cr ?????
ThanQ Ex. FY-2012 (bill paid) Freight Outwart 1500 Dr Bank 1500 Cr FY-2013 (CN recd from customer against above) Customer 500 Dr Retained Earning 500 Cr or Provision A/c 500 Cr ?????
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