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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 / vikash bansal
Dear Mayank,
First Jurnal entry is:
Expenses payable a/c CR.
Telephone Expenses ac Dr. on dt 31march
Second Payment entry is:
Expenses payable a/c Dr.
To Bank/Cash a/c Cr. on dt. ever payment have to
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