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Sales incentives
my client received sales incentive in the form of Mobile phone , the following entry is correct or not
Mobile phone a/c dr
to sales incentives a/c
2) My client sold privilege card to customers ( which is used for various Services by clients ). i want to know the entry for this sale of cards , below entry is correct or not
cash or bank a/c dr
to receipt of services A/c ( In p & l a/c )
Replies (4)
first entry instead of showing sales incentives u take it as a business promotion account
thanks sir,
waiting for 2nd entry also
for second transaction, yu can debit the Customer A/C and Credit the Sales A/c - Privilege Cards
First of all thanks for the reply,
For 2nd entry , if you credit sales , shall we pay sales tax ( or service tax )
* Privilege card = used for serives
please need details
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