Hello
I was suppose to receive rent of two months from somewhere. I didnt receive it so in the year 15-16, I showed in Balance Sheet as "Rent Receivable from Mr.X Rs.yyy"
In the year 16-17 I have recd that rent from cash. How do I do the entry. I am using Tally for accounting. Plz help.
Shahid
for first entry show rent received (book the entry for income for rent received)
party a/v
TO rent received
socond entry for rent received
cash /bank
To party a/c
in short first entry where u book income
and second income where u received money for that
in accounts basics should be very important
thanks for the help.
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