Accounting entry
This query is : Resolved
anantha padmanabha rao
(Querist)
22 November 2012
One of our stockiest converted to consignee sales agent who was making payment on stock sent by us now we have to convert the paid stock in to security deposit kindly suggest the entry to be passed.
22 November 2012
Your question is not that much clear. As per my understanding, that the amount paid by stockist towards purchase of stock has to be treated as security deposit. Then,
consignment Sales a/c debit,
Security deposit from x credit.
consignment Sales a/c debit,
Security deposit from x credit.
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