Ra bill sale entry

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 September 2014 SIR I HAVE QUERY OF RA BILL SALE ENTRY...
PLEASE TELL ME THE ENTRY SALE IN FOLLOWING RA BILL TRANSACTION..

1)WORK DONE :Rs 100
2)MATERIAL ADVANCE : Rs.100
3) TOTAL Rs.200
4)(LESS)i)SECURITY DEPOSIT 5%:Rs.5
ii)TDS : Rs.2
iii)wct : Rs.1
5)AMOUNT PAYABLE : RS.192..

PLEASE TELL ME ENTRY OF SALE IN THIS TRANSACTION..AND ALSO TELL WHOLE ENTRY OF THIS TRANSACTION..

THANKS

Querist : Anonymous

Querist : Anonymous (Querist)

30 September 2014 please reply...

to my query

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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19 July 2025 Given:
Work done: Rs. 100
Material advance: Rs. 100
Total: Rs. 200
Less:
Security deposit 5% (on Rs. 100): Rs. 5
TDS: Rs. 2
WCT: Rs. 1
Amount payable: Rs. 192
Accounting Entries:
To record the RA Bill (work done + material advance):
Debit Debtor/Contractor Account Rs. 200
Credit Work-in-progress/Construction Revenue (Work Done) Rs. 100
Credit Material Advance/Material Sales Rs. 100
(You recognize Rs.100 as revenue for work done and Rs.100 as recovery of material cost/advance)

To record deductions:
Debit Security Deposit Account Rs. 5
Debit TDS Receivable (Asset) Rs. 2
Debit WCT Payable Rs. 1
Credit Debtor/Contractor Account Rs. 8
(To record deductions from the amount receivable)

To record receipt or amount payable:
Debit Bank or Cash Rs. 192
Credit Debtor/Contractor Account Rs. 192

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