Accounting Treatment

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Suggest Me what accounting treatment i can do in following situations.

 

Mr.A transfer goods to Mr. B (by an transfer invoice and not charged vat on such transfer)

then Mr.B sells such goods in his name and charged vat on such goods nd deposited all vat liability on sale then after deducting his commission he transfer all sales amount to Mr. A .

 

Replies (1)

In books of account of Mr. A

  • Debit Note

              By Mr B

              To Sales

  • Credit Note

              To Mr. B

              By Commission Paid

  • Receipt

             To Mr. B

             By Bank


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