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We purchase goods worth rs. 25000 from shyam co. in credit.
We paid him 20000 and rest we refuse to pay. What is the
journal entry for it. This is not discount received.
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Answer Posted / sankeerthana
Untill and unless you express clearly about the reasons for
refuasal of payment of balance as agreed at the time of
purchase,your account will be remained as a debtor in the
suppliers books of accounts and the supplier can take
action against you for non settlement of bill
sankeerthana
www.therealaccountants.com
| Is This Answer Correct ? | 4 Yes | 1 No |
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