Frndzz plz suggest me what to be done in the following situation
A Debtor deducted payment on account of shortage while weighing at the Debtor's premises.
This deduction should be treated in what way?
Whether this is Discount allowed?
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A/c entry
Replies (3)
yup.... you can consider it as discount allowed... or else part payment
U will have to pass the following entry
Debit : Weigment loss a/c Dr
Credit : Debtor A.c
bhargav can you explain your entry... i didnt got you
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