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Income from buyback of asset

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2016 hi,
Income received from buyback of ac Rs 8000 and brought new ac worth 52000 and in bill 8000 discounted. How to account that 8000 rs income .Please guide and do the needfull
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Amol S Joglekar

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Amol S Joglekar (Expert)
20 June 2016 income is credited to income account. AC (Airconditioner) is booked at 52000.
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