HOW CAN I BOOKED RS.200000/ LETTER OF CREDIT(L/C)A/C WITH
PARTIES THROUGH BANK IN TALLY.
Answer / vppl
HOW CAN I BOOKED RS.200000/ LETTER OF CREDIT(L/C)A/C WITH
PARTIES THROUGH BANK IN TALLY.
1. Bank made payment to party
Party A/c Dr 200000/-
To Bank LC A/c 200000/-
2. for Purchase entry
Purchase A/c Dr 200000/-
To Party A/c 200000/-
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Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry
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