Journal entry

(i) Received claim for RS 900 from a customer for late supply of goods claim admitted for RS 500.
(ii) For meeting the requirements of the business for cash, arranged a loan of RS 10,000 from Seth. madan, he gave the amount after deducting interest @ 12%p.a. on RS 10,000 for six months.
Replies (2)
Quick Summary
This journal entry details two key business transactions. Firstly, a customer claim for late goods supply was received and partially admitted for £500 out of £900. Secondly, a £10,000 loan was secured from Seth Madan to meet cash requirements, with interest calculated at 12% per annum for six months. The entry seeks clarification on whether the customer claim is a discount.

Please clerify Claim , is it discount asking customer .
It's not mention

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details