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Tally journal entry
My Client opted for a chit of Rs.50,00,000. Monthly premium is Rs.1,00,000 out of which Rs.70,000 is paid every month and remaining Rs.30,000 is given as dividend. After payment of 8 Installements the chit was discounted for Rs.32,50,000 where Rs.17,50,000 was left in the auction. We received Rs.31,44,690 after deducting Rs.105310 (Commission and Other Expenses). Please advice the Journal
Replies (1)
Identify each transaction
pass entries....
pass entries....
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