Advance for machinery

Anand (NA) (97 Points)

13 June 2015  

Is the below entrys are correct to record the advance payment for machinery

Advance for Machinery A/c Dr

   To Seller A/c


Seller A/c Dr

     To Bank A/c


Goruping Seller under Sundry Creditors

So in Balance sheet under current assets Advance for machinery will be shown

Is this correct method..

Please help