Caution money adjustment
This query is : Resolved
29 November 2022
If a college keeps 8000/- as caution money from student staying in hostel after the completion of study students wanted to adjust the hostel caution money with the same remaining amount of rs 8000/- as tution fees. Please show how to pass journal entry in tally.
30 November 2022
In the books of Collège pass journal entry as...
To. Tuition fees ... Rs. 8000/-
By. Caution money or Advance Receipts.. Rs. 8000/-
To. Tuition fees ... Rs. 8000/-
By. Caution money or Advance Receipts.. Rs. 8000/-
12 December 2022
I think it would be the other way :)
Caution Money Dr. (Deposit/ Liability reversed)
To Tution Fees (Income booked)
Caution Money Dr. (Deposit/ Liability reversed)
To Tution Fees (Income booked)
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