Journal entries
Querist : Anonymous
2)Rent due but not yet paid of Rs 15000 for the month of March 2012
3)Debit note issued to Mr.X for purchased return of Rs.10000(includes TDS of Rs.500)
4)Purchased 10 computers of Rs 200000 and received mobile set of Rs 5000 as a gift and the mobile phone issued for official use.
Please tell me journal entries for above transactions.
Ramesh A/c Dr 7,500
Discount Allowed A/c Dr. 70
To Raman 7,400
To Discount Received 170
2.
Rent A/c Dr
To Rent Payable
3.
Mr. X A/c Dr 9,500
TDS Payable A/c Dr 500
To Purchase Return 10,000
4.
Computers A/c Dr 20,000
To Creditor/Bank 20,000
No entry will be passed for mobile phone received as gift.
discount paid a/c dr 70
to Mr. Raman 7400
to Discount recd. 170
Querist : Anonymous
But I have more confusion about endorsement
if the combined entry is more valid or the seperate entry showing bank a/c is requred?
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