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Please explain what it means
claim received from customer rs.900 for late supply of goods claim admitted for rs.500
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according to the writer this statement is right and ask us to pass journal entry. l am confused about this statement
We are supplier of goods. There was delay on our side. So customer claimed from us for the delay Rs. 900. But we only agreed for Rs. 500. So we will pass entry for only Rs. 500
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