Entry of credit sales

This query is : Resolved

ajit tiwary (Querist)
Follow

30 May 2012 we maintain the sales day book and all transaction includes here.i passed the credit sale entry as follow :-
1) cash a/c ... Dr. 100000
to sales a/c 100000
(this entry show all cash and credit transaction, in which credit transaction includes of Rs. 25000.)
2) debtor a/c ... Dr. 25000
to cash a/c 25000

3) cash a/c ... dr. 25000
to debtor a/c 25000

i want to know is these entry is right or wrong and if it is right, is it s per AS-9(revenue recognition)

i need your suggestion as soon as possible.

G.Ramesh

G.Ramesh (Expert)
Follow

30 May 2012 The above entry is wrong....Correct Entry:

Cash A/c Dr 75,000/-
Debtor A/c Dr 25,000/-
To Sales A/c 100,000/-

The cash a/c will be debited only upon the receipt of cash