General entry
This query is : Resolved
CA sudhanshu
(Querist)
20 September 2012
'A'(Mumbai) sold goods to 'B'(Delhi) sum of rs. 10000. in turn B Deposited cash in A's Bank Account.how this transaction to be entered in A's book?
Amol S Joglekar
(Expert)
20 September 2012
Same as always. What is the real problem? First enter sales..... B's a/c debit to Sales. Secondly Bank A/c debit to B's a/c. (Any issue of AUDIT??????
CA VIKASH AGARWAL
(Expert)
20 September 2012
IN THE BOOKS OF A
B A/C DR. 10000/-
TO SALES 10000/-
BANK A/C DR. 10000/-
TO B 10000/-
B A/C DR. 10000/-
TO SALES 10000/-
BANK A/C DR. 10000/-
TO B 10000/-
CA sudhanshu
(Querist)
20 September 2012
its not relevant to any cases i am bit confused because there is a cash deposited by B in A's account and bank treat this transaction as contra.
Amol S Joglekar
(Expert)
20 September 2012
Ask the explanation from the management. Say correspondence from Delhi party, Get a confirmation letter. Also ask the bank to explain the details of the transaction... mere CONTRA may not mean anything to ACCOUNTANT
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