Journal entry
saurav (Tax practicner) (117 Points)
28 April 2016
Guruprasad.R
(Team Lead)
(57 Points)
Replied 29 April 2016
Here the journal entry would be as below as per my knowledge:
For payment of Advance je as below
Party Account ......Dr
Bank/Cash account ......Cr
For adjustment at final as below
Service/Exp account ....Dr (full amount)
Party account .......CR
Hi All,
Please suggest if my understanding on above entries incorrect.