ACCOUNTING TREATMENT
This query is : Resolved
25 January 2020
A Firm has purchased a car of Rs. 1830396 on loan of Rs.1700000. Firm's account in Sellers book is showing receipt from bank amounting to Rs.2004766. Processing Fees has been debited with Rs.304766.
Please suggest correct accounting treatment along with journal entry.
Thanks.
Please suggest correct accounting treatment along with journal entry.
Thanks.
25 January 2020
Book all the charges in Car's account and transfer as per ledgers.
25 January 2020
yes ..........all other charges should be included in car a/c
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