Answer / h.r. sreepada bhagi

For Stock Transfer from one branch to another or from
Principal to Agent or Consignee, 'Stock Transfer Note" needs
to be issued and not Debit or Credit Note. In case of Stock
Transfer, there will not be any transactions between
different entities resulting in transfer of property in the
goods and hence the transaction will not result in any
financial obligation or right between the transfer and the
transferee.
Stock Transfer can reflect Cost of goods or in case each
branch is treated as a profit centre, the value can be
Cost+profit, as per the policy of the company.

Answer / singhtalwinder_0007

as well as i can understand that debit note or credit not
may be issued.

paid vendor to RS 15000 and incentives of RS.5000 and deducted Rs.3000 as penalty so finally paid to vendor is Rs.17000. please let me know the journal entry for this.

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