Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

accounting entries

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

26 February 2010 what will be the accounting entry when a payment is made to a hospital using credit card. ie in the books of hospital and also in the books of credit card co.

Nilesh Shah

Nilesh Shah (Expert)
Follow

26 February 2010 Nilesh Shah Replies:

In the books of the hospital

Bank a/c will be debited & Professional fees will be credited.

In the books of the credit card company,
Payer's a/c will be debited & Bank a/c anc service charges a/c will both be credited

CA Gangadhar Mishra

CA Gangadhar Mishra (Expert)
Follow

26 February 2010 In the books of hospital :
Bank A/c DR
To Prof.fees Cr
(naration from whom it is recd)
In the books of CC Co :
Dr Party's /customer's a/c
CR Bank a/c
(naration to whose bahalf it is paid)

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now