Interested to Buy Any Domain ? << Click Here >> for more details...
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.
- 12 Answers
- 22259 Views
- I also Faced
- E-Mail Answers
Answer Posted / gouher
we purchase goods worths 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 recieved.
for purchasing
purchasing a/c Dr 25000
To goods a/c 25000
(being goods purchased on credit)
for payment
shyams a/c Dr 20000
To bank/cash a/c 20000
(being payment made to shyam)
for remaing balance
the buyer has refusing to pay the remaining balance.
so the debit note can not bs issued.it can be issued when both the parties are agreed.so the entries will be..
bad debts a/c Dr 5000
To goods a/c 5000
(being refusing of the balance)
| Is This Answer Correct ? | 0 Yes | 2 No |
Post New Answer View All Answers
In accounting, how do you define the premises?
when we can submit Form-C to the Sales Tax Dept. What is the period to issue Form-C to the supplier
what is the journal entry can be passed for an opening balance (bank, fixed asset, provisions)to the new software
How to make a entry in tally for Land & Building Purchased for RS.1,65,00,000/-(Total Consideration)Paid Installment wise as 30 lakh,10 lakh,20 lakh & 1,30,87,500
sir i want to know that where we taken entry of sals return in excise in manufecturing unit tell me .
how pass journal entry in the month ending for input vat and out put vat
what s account
What is cash flow and fund flow?
what do you maen by Expected rate of return ? Is there any formula for expected rate of return? what is systematic & unsystematic risk ? how to calculate both the risk?
while preparing insolvency account deficiency account is wich account? why we do not prepare it with general rules?
What is account receivable?
I have deducted Notice pay Rs. 5000/- in which account to be booked the same enty, what is the head for notice pay in profit and loss a/c.
what do you mean by Firm
What is the difference between inactive accounts and dormant account?
What is the journal entry of building rent and TDs payment?
