Shop Purchase advance

Muhammad Arshad Ashrafi (Accountant) (184 Points)

10 May 2011  

Dear Sir/Madam

please suggess me

if X  pay as advance 1Lac cash & 5Lac a/c payee cheque to Y on 04.4.11 for purchasing the shop, after 1 month X will be pay balance amount 5Lac to Y on Registration of purchase. how can i pass entry in a/c .

please clear it with A/c under head mean fixed assest or investment

Thank to all of you those who read and answer my query

Arshad