We are pvt ltd company in mumbai. we have received rs 1 lac from our customer for incompleted project. Now we want to settle this account by making journal entries. We want to show this amount as indirect income, So what should be proper ledger for the same. Can Debtors write back/ Debtors pay back will be proper or not! Suggest proper name as per accounting standard.
in accounting standard there is no specificlly mentioned the name of ledger, for your convenient you can giv the related name and mention proper naration.
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