direct/indirect income

prasanth (student) (86 Points)

04 March 2009  

dear frnds

whenever direct income occred(related to nature of business for eg., sale of goods)

we give to debit to party a/c(at the time of J.V), BUT

whenever indirect income occured (eg., commission),and amount received after 1 or 2 months. can we treat that person as a debtor upto cash received?

is it wrong to give debit to income receivable a/c(at the time of J.V)

please clarify my doubt frnds

thanks...,

at the time of J.V