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I have received 75000 as retainer ship fees from ABC company what was the
journal entry I have to pass in my books
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Answer Posted / spv@bsl
While raising the bill you have to Dr to ABC Co. and Cr. to
your receipt account
while receiving the fee against above bill Receipt account
(income) a/c Dr and Credit to ABC co.
Income a/c Dr
To ABC Co Cr
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