Dear Sir,
Please what will be the treatment for the following.
There were certains disputes with the party on the machinery supplied and the party has issued a credit note of Rs 5 lacs against the machinery cost of Rs 1 cr and how the same will be treated ?
i thnk d entry should be
SUPPLIER A/c Dr. 5L
To MACHINERY a/c 5L
plz correct me if m wrng
Abic and Mani Chartered Accountants
Kottayam
B.Com
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Malhotra Rajesh & Associates
New Delhi
B.Com
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