Answer Posted / reddy

1.PARTY ADVANCE A/C Dr xxx
TO CASH/BANK A/C xxx
(BEEING ADVANCE PAID TO PARTY OR (SUPPLIERS).


ADJUSTMENT OF ADVANCE :-

2. PARTY"S A/C Dr xxxx
TO PARTY ADVANCE A/C xxx
TO CASH/BANK A/C xxx
(BEEIN WE PICKED PARTY ADVANCE FROM PARTY ACCOUNT)AND
ADJUSTED THE PARTY ACCOUNT)

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