a/c ing treatment of sales tax n intrest on it?
This query is : Resolved
CA Lokesh Pokharna
(Querist)
28 May 2010
sales tax demand rs. 10000
and intrest due to late payment rs. 200
wht is right entry from these 2?
sales yax dr. 10200
to cash
sales tax dr. 10000
intrest on sales tax dr. 200
to cash 10200
and intrest due to late payment rs. 200
wht is right entry from these 2?
sales yax dr. 10200
to cash
sales tax dr. 10000
intrest on sales tax dr. 200
to cash 10200
Aditya Maheshwari
(Expert)
28 May 2010
the second entry is correct
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