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Journal entry for Telephone purchased in credit?
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Answer Posted / sujith k gatty
Suppose company engaged in trading with telephones then,
]purchases a/c dr
to suppliers or creditors a/c
Suppose Company purchased for office use then
Office equipment A/c dr
to creditors A/c
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My question is.. I Received the amount from party through the bank. example. 1. Actual received from party $1000 @ 32.70 = 32,700 baht(service charge included ) 2. Bank Charge 500 baht 3. Given the credit to pary $ 1000 @ 32.50 = 32,500 baht 4. and bank charge 500 debit on party account also. .... For the First three transacion on account bank account dr 32200 bank charge dr 500 party cr 32,500 ex. fluxation cr 200 how can treate the 4th transaction. thanks in advance
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