Accounting entries

In the books of branch :

Expense a/c  / Creditors a/c Dr.

   To Third Party

for eg: telephone bill (BSNL) paid by Mr. X

Telephone Bill Dr.

     To BSNL

BSNL            Dr.

      To Mr. X

On refund of said amount to Mr.X

Mr. X a/c        Dr.

    To Cash/ Bank

if not paid , it remains as a liability

A's  A/c    Dr.  900.00    

To Sales A/c      900.00  

(Being goods sold to Mr. A)

A's A/c         Dr.  900

Discount A/c Dr.  100

      To Sales A/c          1000

Mr roshan paul trade dicount could not be shown while journilising the entry, it is cash dicount which reflectsin accounting process, keep this update in your pattern

thanks

thanks

any time Mr Roshan

wish you good luck for your future

keep in touch

thanks