An advance of Rs 10000/- is received from customer.
pass necessary journal entries
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Answer Posted / satyaki_raju
Advance is not unearned income.it is a payment made by a
customer for future commitment towards supply of goods or
service
The simple entry is
Cash a/c dr
To customer advance a/c
(being advance recd from customer)
| Is This Answer Correct ? | 11 Yes | 2 No |
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