Journal entries
This query is : Resolved
04 April 2018
abc ltd purchase diesel from thakur brothers..while paid to indian oil corporation through card and earned rewards points which is convertible in money.how to we present this transaction in our books of accounts please suggest..
CA Abhishek Goyal
(Expert)
07 April 2018
Your Query is not clearly mentioned. Please elaborate more.
10 April 2018
ABC COMPANY PURCHASE DIESEL FROM THAKUR BROTHERS AMD RECEIVED BILL IN THE NAME OF THAKUR BROTHERS.WHILE ABC COMPANY PAY TO INDIAN OIL CORPORATION ON BEHALF OF THAKUR BROTHERS BY SWAPING CARD SYSTEM AND EARNED REWARD POINTS.WHAT IS THE TREATMENT IN BOOKS OF ACCOUNTS PLEASE GIVE SUGGESTION FOR JOURNAL ENTRIES.
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