re: expenses
This query is : Resolved
20 November 2009
we are C&F agent of petro company.we receive commission on transport.we hire private parties for transporting goods.we pay them by cash.after that we send bills to petro company & they reimburse us for this. i want to know whether this reimbursement is income or expense.whether we should open transport income a/c or transport expenses a/c
21 November 2009
Transport income
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