Maintenance charges- treament

Dear Professional friends

 

In our apartment we are 100 house owners

01.04.2016 to 30.06.2016....Quarterly I am getting Rs5000 from each.  (Maintenance Charges)

Flat100 paid Rs 15000 - advance

Flat99 paid Rs 5000

Flat98 not paid

Please let me know accounting journal entries

 

Adv Thanks my dear friends

Cheers

Balaji Subbu

 

 

Replies (1)

 

by maintanance collection a/c dr ............15000/-

to flat owners  

flat  100 ........................ ............................................................... 5000/-

flat 99............................................................................................ 5000/-

flat  98 .......................................................................................... 5000/- 

(being the amount recoverable from the flat owners for apr-june quarter) 

--------------------------------------------------------------------------------------

in the flat ledger

by  cash received  .................................................. 20000/- 

to  flat  owners 

flat  100 ........................................................................................15000/-

flat 99 .............................................................................................5000/-

(being the amount remitted by flat owners) 

------------------------------------------------------------------------------------

under  the flats ledger 

flat no 100

Maintanance collection ............................................ 5000

Payment received  ......................................................................15000/- 

balance  10000/- 

flat no 99

Maintanance collection ............................................ 5000

Payment received  ......................................................................5000/- 

balance  NIL

flat no 98

Maintanance collection ............................................ 5000

balance due   5000/- 

 

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