No Provision for Sundry Creditor a/c in Previous Year. How to take into a/c in this FY?
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Provision entry
Replies (2)
Amount no longer payable a/c
to s creditor
If sundry creditor is for revenue expenses:
Prior period Expns account - Dr ***
To Name of the party (Creditor) A/c ***
If sundry creditor is for Capital expenses:
Capital (head )account - Dr ***
To Name of the party (Creditor) A/c ***
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