What entry we pass when we gave advance to party for purchase an assets at the year end e.i. 31st march.
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Accoutong entry
Replies (2)
Just enter Advance to Customer...
Advance to Customer
To Bank A/c
Advance to Customer
To Bank A/c
Advance to (Party name) A/c. Dr.
To Bank A/c.
when asset is received nd balance payment is made... pass below entry
Asset A/c. Dr.
To Bank A/c.
To Advance to (party name) A/c.
To Bank A/c.
when asset is received nd balance payment is made... pass below entry
Asset A/c. Dr.
To Bank A/c.
To Advance to (party name) A/c.
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