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Professional fees of Rs.30000/- is paid to a consultant ABC
& Co.
please pass the necessary entry for the same
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Answer Posted / mahendra
1- Journal entry
Professional Fee DR 30000.00
To Tds Paybale 3090.00
To ABC & Co 26910.00
(Being Professional fee payable)
Payments-
2- Tds Payble a/c Dr 3090
To Bank A/c 3090
( Being tds deposit)
3- Abc & Co Dr 26910
To bank a/c 26910
( Being Amount paid to Abc & Co.)
| Is This Answer Correct ? | 14 Yes | 7 No |
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