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A is vendor of B. B owes him 50000/-. A asked B to conduct
an event on his behalf and the expenses incurred by B was
25000/-. A issued a credit note in favour of B in full ,
stating that TDS done @10% on 25000/-. Now , B has to settle
A's balance.
1.Entries in the books of B
2.How much B repaid to A for settlement and the Entry in his
books.
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Answer Posted / pramod sahu
B Ledger Account
1. Bank/Cash A/c Dr. Rs.50,000.00
Vendor A's A/c Cr. Rs.50,000.00
2. Vendor A's A/c Dr. Rs.25,000.00
Sales/Service A/C Cr.25,000.00
3. Vendor A's A/c Dr. Rs.25,000.00
Bank/Cash A/c Cr. Rs.25,000.00
| Is This Answer Correct ? | 3 Yes | 1 No |
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