Frndzz plz suggest me what to be done in the following situation
A Debtor deducted payment on account of shortage while weighing at the Debtor's premises.
This deduction should be treated in what way?
Whether this is Discount allowed?
VANYA GARG (ARTICLE ASSISSTANT) (254 Points)
13 April 2012Frndzz plz suggest me what to be done in the following situation
A Debtor deducted payment on account of shortage while weighing at the Debtor's premises.
This deduction should be treated in what way?
Whether this is Discount allowed?
yash shah
(CA)
(91 Points)
Replied 13 April 2012
yup.... you can consider it as discount allowed... or else part payment
Bhargav K
(Senior Associate/Articled assistant)
(40 Points)
Replied 13 April 2012
U will have to pass the following entry
Debit : Weigment loss a/c Dr
Credit : Debtor A.c
yash shah
(CA)
(91 Points)
Replied 13 April 2012
bhargav can you explain your entry... i didnt got you
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