Accounting treatment
This query is : Resolved
09 May 2014
Dear Experts,
I would like to know the accounting treatment of the following transaction :
I have a Creditor i.e, Mr.A which he owe Rs 25,000..I have an debtor Mr.B also which i owe Rs 25,000. I have told Mr B to transfer the money in the account of Mr A..
I would like to know the accounting treatment in my books..??
Pls suggest !!!
I would like to know the accounting treatment of the following transaction :
I have a Creditor i.e, Mr.A which he owe Rs 25,000..I have an debtor Mr.B also which i owe Rs 25,000. I have told Mr B to transfer the money in the account of Mr A..
I would like to know the accounting treatment in my books..??
Pls suggest !!!
Guest
Guest
(Expert)
09 May 2014
These type of treatment is generally not allowed dear... ha if they have deposited cash.. then you can do two entries of receiving cash and payment through cash.. but by bank you cant do any adjustment entry like this..........
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