I wan to know the treatment of following situation.
I sold soods of rs. 100,000 to government co.
Amount approved by them is rs 97000. than how should i treat the balance 3000 rs and what should be entry if at time of sale following entry is passed.
Govt. Co. a/c dr. 100,000
To , Sales a/c 100,000
which head should i use for treating rs 3000 remember it is not a discount.
Government deptt never deduct the money without any reason, find out , there may be main reason of late delivery charges,
in balance sheet debtors=rs22000
and the adjustment given=
4000 due from B-insolvent estate expected to pay 50%
can u tell me how should i treat ds adjustment
CAclubindia
