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An advance of Rs 10000/- is received from customer.
pass necessary journal entries

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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