Free of cost
This query is : Resolved
12 January 2014
issue of spares , accessories items on free of cost , how to pass the accounting entries & some of parts issues under warranty & manufacturer wil reiumburse value of warranty parts. pls explain accounting procedure for parts issued under warranty & free of cost.
12 January 2014
Hi,
Entry would be:
Warranty Receivable A/c Dr..
.. To Spares A/c..
Here you are creating receivable agst spares given on free of cost.
Warranty Receivable A/c will to be grouped under other receivable / current Assets, & Spares A/c is your inventory a/c
Thnaks
Entry would be:
Warranty Receivable A/c Dr..
.. To Spares A/c..
Here you are creating receivable agst spares given on free of cost.
Warranty Receivable A/c will to be grouped under other receivable / current Assets, & Spares A/c is your inventory a/c
Thnaks
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