Dear friends
I have few clarification
1.I received advance pymt from xyz co., -10000/-, sale of product value is 4000/-, remaining i returned back 6000/- to xyz ltd.,
receipt entry: bank a/c dr 1000 (advance)
to xyz co 1000
sale:- xyz co 4000 (agst ref)
to sales a/c 4000
cash returned: xyz co 6000 (new ref)
to bank a/c
pls guide reg this.
2. We spent expenditure for website designing for our company. ex:25000/-
advance paid to abc co.,10000
what is the entry , whether abc co., comes under creditors?
3. we paid dealership amt to anand enterprises.
what is the entry, under which head it will come.
pls guide me.
malarvannan.
CAclubindia
