what is cash memo? and how it could be differentiated from
tax invoice?
Answer Posted / pranam mazumdar
Cash memo is prepared by the seller when he sells goods against cash.It has details of goods sold,quantity,rate of each item and the total amount received,besides the date of transaction and other terms and conditions,if any.It is an evidence for the purchaser for, goods purchased against cash.and for the enterprise,it is an evidence of sales for cash.
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Suppose My received Interest Income is 24934.59 And for the same time my Bank Charge total is 7785.19. Now the total Bank Charge will be deducted from Interest Income and the amount of (24934.59-7785.19)=17149.40 will be withdrawn to deposit in govt. Account.What will be the Journal Entry for 17149.40. Here, Already Bank Charge 7785.40 is Already Debited and 24934.59 is already credited in Journal.
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