Dear All,
Pls help me with the following
In the books of a contractor (Proprietorship) how the following entry to be passd
Entry for part bill submitted by the contractor to the contractee
Entry for part receipt from contractor
Entry for advance receipt from contractee
Also suggest me appropriate account head
Thanks & Regards
Radha
First entry: Contractee a/c Dr
To Contract a/c (Part bill amount)
2) Bank a/c Dr
To Contractor a/c
(Being amount received)
3) Bank a/c Dr
To Contractee a/c
Being advance amount received vide dd./cheque no.....dt...)
4) Accounts heads are (1) Contract A/c (2) Contractee A/c
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