Accounting entries

Hi Devang,

Following is the entry to record the above transaction:-

Bank A/c               Dr.      7425740

TDS A/c                Dr.         14515

(Grouped under Current Assets)     

           To Sundry Debtor A/c                   7440255

(Being Contract price received and TDS deducted on the same by the customer)

Regards,

Devendra Kulkarni