30 May 2012
In previous cash recieved from debtors was debited against sales and in current year for setting off the debtors amount, prior period expenses was debited against debtors. is it correct and if not what is the correct treatment?
30 May 2012
You can debit the sales a/c and credit the sundry debtors or you can debit the p/l and credit the debtor, in this case revise sales tax return for the error
CAclubindia
