Answer / guest

BRS MEANS BANK RECONCILIATION STATEMENT

Answer / rahul mohta

BRS STANDS FOR "BANK RECONCILATION STATEMENT". IT IS A STATEMENT WHICH SHOWS THE REASONS FOR DISCREPANCIES BETWEEN BANK BALANCE AS PER CASH BOOK AND BANK BALANCE AS PER PASS BOOK.

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Here is a question i was asked below is the scenario need to enter journal entrries for both accounting system Cash and Accrual :- 1) Landlord A/c 2) Tenant A/c 3) Bills Receivable A/c 4) Cash A/c 5) Bank A/c Situation:- 1) Bill is created. 2) Bill is sen to the tenant, journal entry =? 3) Cash is received from the tenant, journal entry=? 5) If cheque is received from the tenant, journal entry=? 6) Receipt is created. 5) Receipt is sent to the tenat, journal entry=? Its urgent, please help.

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