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Journal entry
what is the journal entry for advance payment
Replies (3)
Advance payment a/c Dr
to cash a/c or bank a/c
to cash a/c or bank a/c
Party A/C Dr.
To Bank A/C
And adjust such advance payment against future invoices
or
(i) Party A/C Dr.
To Advances A/C
(ii) Advances A/C Dr.
To Bank A/C
To Bank A/C
And adjust such advance payment against future invoices
or
(i) Party A/C Dr.
To Advances A/C
(ii) Advances A/C Dr.
To Bank A/C
Expenses you hv not booked....
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