Rams due of Rs 32500/- was settled thru adjustment of
security deposit Rs 12000/-and the balance in cash.pass
necessary entry
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Answer Posted / sachin
Considering Ram as Creditor in Balanceshit of our
organiastion & Security deposit with him as unadjusted
asset showing in the asset side of our balanceshit,
following entry should get posted.
Rams A/c Dr 32500 (Nulify the Credit balance of RAm)
To Security Deposit A/c 12000 (Nulify the SD Asset)
To Cash A/c 20500 (Reduce the balance of Cash)
In the books of Ram the entry will be
Cash A/c Dr 20500
Security Deposit Dr 12000
To XXX org (Our company) 32500
| Is This Answer Correct ? | 5 Yes | 2 No |
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