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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 / sourabh dudeja
Dr Cr
Expenses 25000
To Bank 25000
Dr Cr
A a/c Dr 25000
TDS a/c cr 2500
To Bank a/c 22500
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