Answer / phillips

Invoice is a document that detail the price,quantity and
the conditions attached to the goods and services to be
provided by the 3rd party.

In a bidding for a certain goods and services,company
normally use it to make comparision between different
supplieirs to ascertain different price qouation and
aventually settled down for the one that meet the
particular demand or specification and also use for audit
purposes to ascertain the fair value for any purchased items

Suppose My received Interest Income is 24934.59 And for the same time my Bank Charge total is 7785.19. Now the total Bank Charge will be deducted from Interest Income and the amount of (24934.59-7785.19)=17149.40 will be withdrawn to deposit in govt. Account.What will be the Journal Entry for 17149.40. Here, Already Bank Charge 7785.40 is Already Debited and 24934.59 is already credited in Journal.

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EXpand-------KGF

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