Advances to sundry creditors journal entry

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M.GURURAJU (Querist)
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14 October 2017 Sir/Madam,

I would like to know how to make journal entries when advances given to sundry creditors for Instance on 01.10.17 we have made NEFT of 1,00,000/- towards advance for Furniture & Fixtures(Iron Safe in case of Co operative Credit Society) and on 14.10.17 we have received the Iron safe and balance amount of Rs.90,000/- paid through bank now
I would like to know the Journal entries for the same

Thanks in advance

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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14 October 2017 on 1.10.17 Vendor A/c Dr 100000 To Bank. 100000 on 14.10.17 Vendor a/c Dr 90000 To Bank 90000 Furniture & Fixture Dr 190000 To Vendor. 190000

M.GURURAJU

M.GURURAJU (Querist)
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14 October 2017 Thank you very much sir

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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14 October 2017 Welcome Gururaju Ji

RAJA P M

RAJA P M (Expert)
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14 October 2017 It's Journal...?
Journal or Receipt...???

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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14 October 2017 Payment & Journal entry

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RAJA P M

RAJA P M (Expert)
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14 October 2017 Very Nice Reply Bro...
But, Payment or Journal...!

Am I Right...?

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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14 October 2017 Yes you are right 1st two entry are for payment and last entry is journal

RAJA P M

RAJA P M (Expert)
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14 October 2017 Now you ll be created Confusion...

Above said Transactions like "Payment (2) & Purchase (1) if he is a trader or Journal if he use as Assets...

But,
How I understand above said query as, I think
He ask "Can I make Journal entry for Payments"...?

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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14 October 2017 In normal all the entry (Purchase, Sales, Payment, Receipt, Journal) are called Journal entry. If you go to technical meaning than people bifurcated the entry

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RAJA P M

RAJA P M (Expert)
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14 October 2017 YESSSSSSSS... I agreed to you. Finally I got very exact reply from A Professional.... 🙏🙏🙏🙏🙏😊😊😊😊😊

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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15 October 2017 Thanks Raja Ji

RAJA P M

RAJA P M (Expert)
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15 October 2017 Welcome and Also I like it...

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