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This query is : Resolved 
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(Querist)
01 December 2010 1 For Example if AMC charges for 12 month =Rs37278
2 Amount Paid During the Year=Rs 18000
3 Prepaid Expenses for 10 month=37278/12*10=31065
so what is the Entry??

Expenses A/c dr 6213
Prepaid Expenses A/c dr 11787
Amount not due A/c 19278
To Bank A/c 18000
To Payble A/c 19278
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
01 December 2010 Expenses A/c Dr. 6213/-
Prepaid Expenses Dr. 31065/-
To Bank A/c Cr. 18000/-
To Payable / Party A/c Cr. 19278/-
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S. Karthi

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S. Karthi (Expert)
01 December 2010 I thought you go as per or better to do as per follows:

Expenses A/c Dr 37278
To Party A/c 37278

Party A/c Dr 18000
To Bank 18000

if you did as per above, you can take perfect expenses report & exact party O/s.
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
24 February 2011 yes... the above case is also good but then you need to pass an additional entry for prepaid exp
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