Journal entries
This query is : Resolved
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Nagarajan Kumaresan
(Querist)
28 September 2020
Experts please help me out.
What are the journal entries involved in the following transactions. Say rent payment by Mr.A 1.Online payment initiated by Mr.A goes to Mr.B (payment gateway) say Rs.10000 2.Mr.B settles to Mr.C (intermediary) Rs.9800.00 3. Mr.C finally settles to Mr.D(end user) Rs. 9700. Total commission Rs.300 beared by Mr.A.
C raise invoice for Rs.300
What are the journal entries involved in the following transactions. Say rent payment by Mr.A 1.Online payment initiated by Mr.A goes to Mr.B (payment gateway) say Rs.10000 2.Mr.B settles to Mr.C (intermediary) Rs.9800.00 3. Mr.C finally settles to Mr.D(end user) Rs. 9700. Total commission Rs.300 beared by Mr.A.
C raise invoice for Rs.300
CA PARTH SHAH
(Expert)
12 October 2020
In whose books, you have to pass the entries?
Nagarajan Kumaresan
(Querist)
12 October 2020
In the books of Mr.C the intermediary .
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