In which date vat adjustment entry is done for 1st Quarter(1 april To 30 June) or any quarter.
Outvat vat ............... Dr 10000
Input vat............ Cr.7000
Vat Payable.......Cr 3000
Outvat vat ............... Dr 10000
Input vat............ Cr.7000
Vat Payable.......Cr 3000