Devendra (Chartered Accountant) (4775 Points)

13 July 2012  

There are two sister concerns. A pays to B for the electricity charges as it uses the electricity which is supplied from the Electric Meter which is in the name of B. A records all the bank transactions as and when the cheques are given. But B records the bank tranasction as per the bank statement. 

A gave a cheque to B on 21st of March which came into the bank statement of B in April 2012. Now my question is how should I tally the balance of Sister Concerns A and B?