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what is the journal entries of a debit/credit notes in the
books of seller and purchaser's A/C.
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Answer Posted / sridharan.v
IN THE BOOKS OF SELLER :-
Debitnote :-
party a/c Dr xxx
To sales a/c xxx
To vat a/c xxx
(Vat payable)
Creditnote:-
Sales A/C Dr XXX
VatA/C Dr XXX
(Vat Receivable)
TO partyA/C XXX
(Inthe books of purchaser the journal entry is just
opposite to the seller)
| Is This Answer Correct ? | 33 Yes | 6 No |
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