a person order 20 units of phone from a shop online and shop's employee dispatch the parcel with 22 unit of phones by mistake so what are the accounting treatment and journal entries for it
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Loss due to lost
Replies (3)
Quick Summary
Prepare Sales Invoice for 20 phone Units
for 2 phone lost reduce stock from stock journal
pass entry for 20 phone
Trader Debtor's A/c Dr
To sales A/c Cr
To CGST A/c Cr
To SGST. A/c Cr
( Booking entry for 20 phone)
For 2 phones lost pass entry
Lost phone A/c Dr
To purchase A/c Cr
( 2 phones were lost )
also reduce 2 phone from stock journal
for 2 phone lost reduce stock from stock journal
pass entry for 20 phone
Trader Debtor's A/c Dr
To sales A/c Cr
To CGST A/c Cr
To SGST. A/c Cr
( Booking entry for 20 phone)
For 2 phones lost pass entry
Lost phone A/c Dr
To purchase A/c Cr
( 2 phones were lost )
also reduce 2 phone from stock journal
And what are the entries in receiver books of accounts ???
yes what are the journal entries in the receiver books of accounts ?
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