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Advance to debtor

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 June 2013 We pvt ltd having very old debtor whose o/s as on date is 15 lakh. They hav some matters with bank and ha ing proprty hypothecated to bank
.There is one option given by debtor. They r asking for advance of 4lakh for 10 days. They will submit it to bank after which bank will release their 15 lakh which they wil give to us. There is 100% trust on debtor.plz tel me what financially there wil be problem in giving advance to debtor and how to show it in our a/cs.
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CA Suraj Lakhotia

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CA Suraj Lakhotia (Expert)
11 June 2013 If the business decides to give advance, you can very well give the advance.
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