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CA sudhanshu (Querist)
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20 September 2012 'A'(Mumbai) sold goods to 'B'(Delhi) sum of rs. 10000. in turn B Deposited cash in A's Bank Account.how this transaction to be entered in A's book?

Amol S Joglekar

Amol S Joglekar (Expert)
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20 September 2012 Same as always. What is the real problem? First enter sales..... B's a/c debit to Sales. Secondly Bank A/c debit to B's a/c. (Any issue of AUDIT??????

CA VIKASH AGARWAL

CA VIKASH AGARWAL (Expert)
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20 September 2012 IN THE BOOKS OF A

B A/C DR. 10000/-
TO SALES 10000/-

BANK A/C DR. 10000/-
TO B 10000/-

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CA sudhanshu

CA sudhanshu (Querist)
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20 September 2012 its not relevant to any cases i am bit confused because there is a cash deposited by B in A's account and bank treat this transaction as contra.

Amol S Joglekar

Amol S Joglekar (Expert)
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20 September 2012 Ask the explanation from the management. Say correspondence from Delhi party, Get a confirmation letter. Also ask the bank to explain the details of the transaction... mere CONTRA may not mean anything to ACCOUNTANT