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Our company is in manufacturing stage and we had paid advance payment to several suppliers for some construction purposes. As manufacturing stage I want to treat it as Capital work in progress.So kindly advise how can we pass the entries for the same.



Our company is in manufacturing stage and we had paid advance payment to several suppliers for some ..

Answer / raja halder

Suppliers a/c Dr ......               Advanced Payment
To bank a/c.......

Fixed asset a/c  Dr.......         Progress transaction
To Suppliers A/c

I think this is possible entry.

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