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prasad Nilugal (Accountant GST Practitioner . ) 12 October 2019
Co-Op Society is Non profit organisation therefore you have to prepare Income & Expenditure A/c , instead of Trading & profit & loss (its for profit making business) . So prepare Income & expenditure A/c and Show Carriage expense on expenditure side .
J. E will be
Carriage Expense A/c Dr .
To Cash / Bank A/c CR
( Being carriage expense paid ) In you paid Cash Cr cash A/c otherwise Bank should be credited .