ajeet singh rajpoot


{ City } jabalpur
< Country > india
* Profession * accountant
User No # 114059
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Questions / { ajeet singh rajpoot }
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I purchased a machine and finance it by bank with the amount 1900000 and bank apply the finance charge 440000 for 3 years finance how to pass this entry still machine value is 2200000 is finance charge is interest (indirect exp.) pls help me.

 Accounting General 1463



Answers / { ajeet singh rajpoot }

Question { 2823 }

We have an boat manufacturing company .we customer order one boat the cost is 1130 .we have received advance 500 balance he will give after giving boat can you give me journal entry
cash A/c Dr 500
customer A/c Dr 630
To Sales 1130
is this entry is correct ?if not please give me exact entry


Answer

there will be 2 entries 1st party A/c dr. 1130
to goods A/C ....1130
and 2nd on cash A/c dr. 630
to party name A/C 630

Is This Answer Correct ?    0 Yes 2 No