one of the professional services person outstanding ledger balance amount show in books as on dt:31-03-21.
q.no.1
cash loan from creditor rs:3 lacs balance
cash loan to debtor rs:4 lacs
asseesse creditor ledger balance amount transferred to debtor account adjustment entry passed in books in f.y.21-22.and remaining balance rs:1 lacs cash receipts.
q.no.2.
cash loan from creditor rs:4 lacs
cash loan to debtor rs:3 lacs
cash loan to debtor rs:1 lacs.
asseesse creditor ledger balance amount transferred to two debtors account adjustment accounting entry passed in books f.y.21-22.
question:
above mentioned two cash loans written off adjustment entry passed in books accepted in it act.
Cash loans written off procedure accepted
Kollipara Sundaraiah (B.com) (2963 Points)
22 December 2021