Can somebody please tell that what will be the accounting entry.
If a company paid society maintenance charges toward shop which was purchased by company itself.
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Society maintenance charges paid by company
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Quick Summary
Society Maintenance charges A/c Dr
To Bank A/c Cr
( Payment of society maintenance expenses )
To Bank A/c Cr
( Payment of society maintenance expenses )
I must add value to it. society maintainance charges nominal account.
Bank credited account. money goes out
Bank credited account. money goes out
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