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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.

Question Posted / anil

Answers were Sorted based on User's Feedback



A is vendor of B. B owes him 50000/-. A asked B to conduct an event on his behalf and the expenses..

Answer / 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

A is vendor of B. B owes him 50000/-. A asked B to conduct an event on his behalf and the expenses..

Answer / gunjan

A dr 27500
To B/P 27500


B/P Dr 27500

To Bank 27500

Is This Answer Correct ?    0 Yes 0 No

A is vendor of B. B owes him 50000/-. A asked B to conduct an event on his behalf and the expenses..

Answer / gunjan

A dr 27500
To B/P 27500


B/P Dr 27500

To Bank 27500

Is This Answer Correct ?    0 Yes 0 No

A is vendor of B. B owes him 50000/-. A asked B to conduct an event on his behalf and the expenses..

Answer / 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

Is This Answer Correct ?    0 Yes 0 No

A is vendor of B. B owes him 50000/-. A asked B to conduct an event on his behalf and the expenses..

Answer / p. vedha

IN B'S BOOK

vendor A a/c 24500
tds a/c 500

to cash/bank 25000

therefore B should settle Rs. 49500/- to A

Is This Answer Correct ?    0 Yes 3 No

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