Pls advise if a client pays us - Rs. 3,43,00 after deducting 2% TDS 7000 on 3,50,000/- and our Invoice is Rs. 3,30,000/- then how we pas entry of the difference amount Rs. 20,000/-
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Answer / mlv
recipt Entry:-
bank a/c-dr- 343000/-
TDS receivable dr-7000/-
to party A/c-3,30,000/-
To advance received from party-20000/-
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