If the financial year is Jan till Dec then would we make
any entry for the telephone bill of Dec, whose invoice/bill
would generate in Jan of next year.
If yes what would be the amount as bill is still not
received and what would be the adjusting entereis. Also how
to rectify the same in next year?
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Answer Posted / rabi
Entry would be Telephone Exp. Dr and Telephone Expanses payable Cr. (Telephone Expanses payable should be stand in the group of Current Liblty ) and Next Month in Jan expanses payable will Adjust with cash / bank
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