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After closing the financial year i.e. 31st march.,
you have received a teliphone bill on dated 1st april
( And the bill was for the month of 1 mar to 31st march
i.e closing year's last month)what treatment you will do in
current financial year and closing financial year.
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Answer Posted / shankar
In the closing financial year
Telephone Charges Dr
Oustanding Liability Cr.
(Provision for Telephone charges .....)
In the Current financial year
Outstanding Liability Dr.
Cash / Bank account Cr.
(Telephone charges for the month of March paid)
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