Dear ALL,
If we receive advances from our customer then we pass this entry
Cash Account (Dr.)
Unearned Income (A/R) (Cr.)
and later we send good to our Customer then we pass
A/R (Dr.)
Sales / Inventory (Cr.)
if we receive Rs. 50,000 in advanced and send goods less amount
for example we send 40,000 its means we pay 10,000 to our customer
my question is how to record this transaction in Peachtree
Thanks
Actual entry must be for advance receipt of money. is
Cash/Bank a/c Dr
To Name of the customer a/c credit.
After sending the goods to that customer
Debit the customer a/c
Credit sales A/c
Balance willl remain in the customer account only
agreed with Rama Chary sir...
Shyam Joshi & Associates
Pune
B.Com
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