Accounting entry

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

09 September 2012 our firm is doing screening & printing of saree business.foe which we need lignite & we purchase it from GMDC.for which there an ajent who book lignite at gmdc & pay the amount on our behalf. at that time he issue debit note regarding booking charges of lignite.when we get the dilivery of lignite gmdc make bill on us and return the differance amount of booking and bill to us.now what accounting entry should be passed for above transaction.
we have credited agent's a/c on reciept of debit note & make the payment on debit note.now how to make entry of gmdc bill. pls help me.

CA Ilayaraja

CA Ilayaraja (Expert)
Follow

09 September 2012 please specify clearly to whom u r paying..
i.e., to gmdc or agent... with amount

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2012 we are paying to agent on the basis of debit note i.e booking amount.and the difference of booking amt and bill amount is receive from gmdc

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

MAYANK

CA.Pinank Arvindbhai Shah

prakash takane

Vijay Singh

ashok jain

Subscribe Now

Accounting entry

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

GST CONSULTANCY

CA Final

Accountant

Senior Executive

GST CONSULTANT