Professional fees of Rs.30000/- is paid to a consultant ABC
& Co.
please pass the necessary entry for the same
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Answer Posted / kailash
Professional Expenses A/c Dr.30000/-
To ABC & Co. Cr.26910/-
To TDS Deducted on Profession Fees Cr.3090/-
(Being bill received from ABC Co. For Professional Charges &
TDS Deducted @10.30% i.e 3091/-)
Payment Enrtry
ABC & Co Dr.26910/-
to Bank & Cash A/c Cr.26910/-
(Being cash & chq. paid to ABC & Co.)
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