Dear Sir
in books of account approximately Rs.50000/-Labour charges is payble.
Same paid by propriter in his own pocket so please suggest entry in books of account
(1) labour charges account debit
labour charges payable account credit.
(2) when actually paid.
the entry will be
labour charges payable account debit
proprietor capital account credit.
labour charges payable. It is payable he said. not paid.
yes. I agree with Sourav
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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