I.t. Assess gas amount paid through on bank mode Rs:850/- .some amount refunded rs:150/- bank account deposit.
question:
Assess how to passed accounting entries above transactions
house expenses Rs:850/- a.c.debit and refund amount rs150/- house expenses a.c.credit is correct or in correct.
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Account entries
Replies (1)
Hi your correct.
house expenses a/c
Tax a/c
To Bank
reimbursement
Bank a/c
To tax
To Reimbursement
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