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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 / 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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