02 April 2010
Dear Expert, I have received some amount (more than 20000) from my freind (Let A) though by bank. Firstly my freind (A) transfer amount to his freind a/c (Let B), then his freind B transfer it to me. Now can I directly return the money to my freind A's a/c or I hav to transfer it to his freind B then B make transfer it to A.
03 April 2010
See u have received amount from B. So you should not be concerned from where B has got the money and u will be showing that amount is due to be paid to B. So you should pay to B only.
If u have recorded in the books the amount is received from A then pay to A directly otherwise not though the first transaction is not correct accounting.
CAclubindia
