Dear Sir,
A person engaged in business of selling of agricultural product ( Wheet, paddy, Cotton) on commission basis ( arthia), i.e., purchase agricultural produce from farmers and sale it to market via KRISHI MANDI, maximum times commission agent paid advance to farmers for thier holy need. mow my query is that how to show debit credit in books of account.
example Mr. Sohan Singh Dr. Rs. 11000/- Mr. joginder Singh Cr. Rs. 16000/- In which case please advice.
On purchase
Purchase Ac Dr 100
To farmer Ac 100
On payment
Farmer Ac Dr 100
To bank 90
To commission 10
CAclubindia
