Prior expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 May 2012
In previous cash recieved from debtors was debited against sales and in current year for setting off the debtors amount, prior period expenses was debited against debtors.
is it correct and if not what is the correct treatment?
is it correct and if not what is the correct treatment?
Ca Anand Dubey
(Expert)
30 May 2012
You can debit the sales a/c and credit the sundry debtors or you can debit the p/l and credit the debtor, in this case revise sales tax return for the error
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