Dear All,
We were having our office at Rent, for which we had deposited Rs.7,60,000/- with the premises owner which is refundable. At the time of Vacation of the premises, owner has refunded Rs.7,00,000/- the remianing amount of Rs.50,000/- he kept with him because of defect work (as per the contract).
So, can anyone please advise while passing the accounting entry in which account should I debit the balance amount of Rs.60,000/-. The entry will be :
Bank a/c ................Dr Rs.7,00,000/-
(please advise account) Rs.60,000/-
to Deposit-Lease office a/c .............Cr Rs.7,60,000
CAclubindia
