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Whatis the Journal entry for advance payments and advance
receipts from Debtors and creditors
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Answer Posted / k. srinivasa rao
when the payment made to creditors, and receipts from
debtors should pass the payment voucher and receipt voucher
only not journal voucher.
when payment made to creditors
creditors a/c.
To Bank/Cash
When receipts received from debtors
Bank/Cash a/c.
To Debtors a/c.
| Is This Answer Correct ? | 67 Yes | 27 No |
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