I want to book telephone exp provision entry for the month of March 2012? How can i pass this entry? I want record effect of service tax also in it? Should I pass entry as follows:
1) telephone exp Rs.100
to Tele exp payable Rs.100
(on 31.03.2012)
2) tele exp payable Rs.100
to tele exp Rs.100
(on 01.04.2012 for reversal of provision)
3) tele exp Rs.100
Input Service tax 10
to mtnl no.000012 Rs.120
(for booking march bill on 05.04.2012)
4) Mtnl 0000012 Rs.120
to Bank Rs.120
(on 06.04.2012 to make payment)
Does all above entrries are right?
CAclubindia
