Accounting entry

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 December 2014 Sir,

i need to pass an accounting entry for an educational institue, where income is shown on receipt basis and fee is received in installment. i need to open the account of every student so that i will easily recognize the undue amount of student. for ex. if any student pay fees 3000, and course in which he is register is 16000 so the outstanding amount id 13000 in student account.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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16 December 2014 First record a journal entry:

Student A/c (Sundry Debtors) Dr
To Fees A/c (Income)

On receipt of installments record the following entry:

Cash/Bank A/c Dr
To Student A/c