dear experts
i have doubt about journal entries for chit money paid. my client paid monthly chit money. my entries are
chit company ( currentassets) a/c dr 10000
cash a/c cr 8500
chit kasar ( indirect income) cr 1500
pls help above entries are correct or incorrect . every month this entry will come
Yes. It is correct.
thnaks for your reply sir
MANUJ SHARMA AND COMPANY
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RMA And Associates LLP
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S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
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Interactive Media Pvt Ltd.
New Delhi
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CCI
Pro
CAclubindia
