Account entry
This query is : Resolved
21 December 2011
how to make account entry of following transaction:
1-Ms Kapoor raised an invoice for Rs 50000 on Media live production for services provoded.the terms of credit are 30 days.
2-MediaLive Production settled the bill for a final amount of Rs48000 by paying Rs20000 in cash and Rs28000 by Cheque.
1-Ms Kapoor raised an invoice for Rs 50000 on Media live production for services provoded.the terms of credit are 30 days.
2-MediaLive Production settled the bill for a final amount of Rs48000 by paying Rs20000 in cash and Rs28000 by Cheque.
21 December 2011
Media Live Production A/c Dr. 50,000/-
To Service Income 50,000/-
Bank A/c Dr. 20,000/-
Cash A/c Dr. 28,000/-
Discount A/c Dr. 2,000/-
To Media Live Production 50,000/-
To Service Income 50,000/-
Bank A/c Dr. 20,000/-
Cash A/c Dr. 28,000/-
Discount A/c Dr. 2,000/-
To Media Live Production 50,000/-
Guest
Guest
(Expert)
21 December 2011
In the above entry group shall be as under :
Media Live Production a/c : Sundry Debtors
Service : Income
Bank : Current Assets
Cash : Current Assets
Discount : Indirect Expenses
Media Live Production a/c : Sundry Debtors
Service : Income
Bank : Current Assets
Cash : Current Assets
Discount : Indirect Expenses
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