31 March 2013
we have sale good on cash basis with issue sale invoice sale invoice amt is 2900 but customer forget takan 100 rs he give us 3000 we take 100 rs as credit on cutmor a/c , my question is hoe many day we can take in book as credit ,when we take in as indirect income
26 April 2013
You may keep the amount pending under current liability until you confirm the amount is no more payable. Once the amount is no more returnable, it should be taken to income a/c
CAclubindia
