Accounting entry

radha (ggk) (44 Points)

31 December 2011

Dear All,

Pls help me with the following

In the books of a contractor (Proprietorship) how the following entry to be passd

Entry for part bill submitted by the contractor to the contractee

Entry for part receipt from contractor

Entry for advance receipt from contractee

Also suggest me appropriate account head

Thanks & Regards

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Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (3530 Points)
Replied 31 December 2011

Radha

First entry: Contractee a/c Dr

To Contract a/c (Part bill amount)

2) Bank a/c Dr

To Contractor a/c

(Being amount received)

3) Bank a/c Dr

To Contractee a/c

Being advance amount received vide dd./cheque no.....dt...)

4) Accounts heads are (1) Contract A/c (2) Contractee A/c

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