Hi Team,
How to pass the journal entries for 1. Prepaid Income and 2. Outstanding Income.
with detail explaination.
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Clarification
Replies (4)
1 Prepaid Income
Bank A/c DR
To Advanve from vendor
Bank A/c DR
To Advanve from vendor
2 outstanding income
vendor a/c Dr
To Income
vendor a/c Dr
To Income
Income A/c Dr
To Prepaid Income
O/S Income A/c Dr.
To income A/c
To Prepaid Income
O/S Income A/c Dr.
To income A/c
prepaid income
Bank account Dr
to customers account
o/s income
customers account Dr
to sale
Bank account Dr
to customers account
o/s income
customers account Dr
to sale
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