In the book of independent branch pass the journal entry for:
Income of Rs.2800 allocated to branch by head office. No entry is passed in the book of brance.
Shouldnt the entry be
Bank A/c Dr.
To Head office A/c
but in the paduka book it has debited the Head office A/c.
Please tell me the correct answer and if the paduka book answer is right, tell me why.
Thank you guys in advance :D
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