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Kindly tell me some journal entry of provision .
1) Make provision for Rs 100 teliphone bill on 31 March 2010.

2) teliphone bill received Rs 150/- on dated 10 Apr 2010.
What will be journal entry for both case in tally.

Answer Posted / komara

1) Provision for Telephone bill on March 2010

Telephone Expenses A/c Dr 100.00
To Telephone Expenses payable A/c 100.00

2) Journal Entry on April 2010

Telephone Expenses Payable A/c 100.00 Dr
Telephone Expenses A/c 50.00 Dr
To Service Provider A/c 150.00

Is This Answer Correct ?    8 Yes 5 No



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