1)Is accounting entry required in case a machine is sent for repair during warranty period and vendor will not charge any fee for the same??
2) Is accounting entry required if machine gets damaged and is sent to its vendor for replacement during replacement period?
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Accounting entry
Replies (2)
Quick Summary
No... No need any accounting entries in both condition.
But, keep records for the RM schedule for Your documents...
But, keep records for the RM schedule for Your documents...
If the amount is not involved in both transaction , then No Accounting entry (J.E) ,however you have to keep record .
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