All Respected Members,
Please educate me that how can we record an advance receipt invoice with charging sales tax in accounts ?
For Example:
We have to raise an advance receipt invoice of RS. 100, 000 at rate of 10% sales tax to our clint; how we will record it in accounts.
Further, please also educate that when advance payment against this invoice will receive; how we will record it in accounts too ?
It is requested to please share journal entries of both cases.
I would like to thank in advance to them who will response regarding this query.
CAclubindia
