we are going to purchase of new office. what is accounting
entry for it if we made adv to party , some part payment
paid to party. pls tell me & under which group ledger will
come
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Answer Posted / toms thankachan
Just create a ledger in the name of the party under sundry
creditors/ Bills payables.
Make an entry for the payment
Vendor a/c.... Dr
to Bank.
when you done the deal the entry follows
bldg.....Dr
to Vendor a/c
When the payment made in full
Vendor a/c.....Dr
to Bank
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