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An advance of Rs 10000/- is received from customer.
pass necessary journal entries

Answer Posted / vaudevan

There must be some purpose for which Advance is paid by the customer. That is either for material or for the service . So Direct entry mentioned by others like

Cash A/c Dr
To Advance

will not serve the management purpose. Also the customer from whom Advance is not reflected in the above. there it is better to have

Cash A/c Dr
To Advance

Advance a/c Dr
To Customer.

Customer a/c will be in negative or Credit. But at billing we are going to debit him like

Customer A/c Dr
Customer

Vasudevan

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