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Kindly tell me some journal entry of provision .
1) Make provision for Rs 100 teliphone bill on 31 March 2010.
2) teliphone bill received Rs 150/- on dated 10 Apr 2010.
What will be journal entry for both case in tally.
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Answer Posted / sai ram
31-03-10
Telephone Exp. a/c Dr 100.00
To Telephone Exp. Payable A/c 100.00
(being the provision made for telephone expenses)
10-04-10
Telephone Exp. A/c 50.00
Telephone Exp. Payable A/c 100.00
To Creditor or service provider A/c 150.00
(being the provision reversed and balance exp booked)
| Is This Answer Correct ? | 56 Yes | 13 No |
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