An advance of Rs 10000/- is received from customer.
pass necessary journal entries
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Answer Posted / t.c. arumugam
CASH / BANK A/C. DR 10000.00
CUSTOMER A/C. CR. 10000.00
(BEING ADVANCE RECEIVED FROM THE CUSTOMER M/S. A)
or
CASH / BANK A/C. DR. 10000.00
ADVANCE A/C CR. 10000.00
(BEING ADV RECD FROM THE CUSTOMER M/S.A )
ADVANCE A/C. DR. 10000.00
CUSTOMER A/C. CR. 10000.00
(BEIND ADV RECD FROM CUSTOMER M/S. A)
| Is This Answer Correct ? | 16 Yes | 5 No |
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we are run construction (residence & commercial)last year we are sale 4 flats (16 flats apartment) registration value example:10.75 * 4 = 43.00 but we are collected from customers 45.00 total so 45 - 43 = 2.00 this amount we are booking additional agreements work amount (income)because we are standing sub contractors expendeture side 2.00, we are service tax paid or not ?
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