Credit note for written off assets
This query is : Resolved
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28 March 2020
Hi,
I have received credit notes from vendors after fully writing off of assets in books. What will be the treatment of this along with journal entry.
I have received credit notes from vendors after fully writing off of assets in books. What will be the treatment of this along with journal entry.
29 March 2020
You have to treat the credit note as other income since the asset have been fully written off.
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