Advance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 September 2014
Dear Sir,
Advance received from a customer will go in liability side
or
it will go in Assets side?
Please clarify.
Advance received from a customer will go in liability side
or
it will go in Assets side?
Please clarify.
Nikhil Kaushik
(Expert)
23 September 2014
Whenevr u have such ques...think it like this...what will you do when you give an advance? Will it be your asset or liability? Do the reverse when you receive an advance
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