How to record:- Amount received 500000/- for supply of material for 5 years

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How to record:- Amount received 500000/- for supply of material for 5 years..

Answer / twinkle verma

Bank a/c .....Dr. To Sales a/c (Being material supplied for 5 years in advance)

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How to record:- Amount received 500000/- for supply of material for 5 years..

Answer / abhi

how could u assume amount was not received in cash without any information.

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How to record:- Amount received 500000/- for supply of material for 5 years..

Answer / ishaq

Bank Account Debit
To Sales Account Cridit
To Supply Account Cridit

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