Received Rs.1,50,000.00 as donation by Trust (50,000 x3) for the purpose of Poor Student Relif on 26.03.20 in Trust bank account. Same was issued on 29.03.20 to students parents by cheque of Rs.10,000 each student. Same cheque was not clear upto the financial year end.
How to pass its accounting entry in Tally ERP 9 and what will be its head group??
By Bank a/c 1,50,000₹
By Student 1 a/c 10000₹
.
.
.
By Student 15 a/c 10000₹
To Charity a/c 150,000₹
To Bank a/c 150,000₹
adjust tax and relief wherever necessary.
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