Journal entry for purcahse and payment
This query is : Resolved
03 August 2024
i want to know abt i had purcashe goods from A and this payment is recoverable from govt how journal entry pass in this situation
Gokul Sharma
(Expert)
03 August 2024
PURCHASE A/C .....................DR
TO VENDOR
GOVT A/C ...........DR ( RECEIVABLE AMT)
TO INCOME
BANK A/C ..........DR AMT RECED FROM GOVT
TO GOVT
VENDOR A/C ..........DR PAY TO VENDOR
TO BANK
TO VENDOR
GOVT A/C ...........DR ( RECEIVABLE AMT)
TO INCOME
BANK A/C ..........DR AMT RECED FROM GOVT
TO GOVT
VENDOR A/C ..........DR PAY TO VENDOR
TO BANK
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