Accounting for sale through e-auction

CA abhishek Jain (Associate manager) (106 Points)

08 May 2014  
Hello All,
 
I have a query regarding accounting for Sale through E-auction. Actually the fact is company is selling goods through a Monitoring committee under e-auction. At the time of sale(E-Auction) company came to know who is the buyer(successful bidder). Now the question arises at the time of sale whether one should debit the third party account or Monitoring committee account?
 
Thanks in Advance.