Check sibling questions

We know that Sales Entry is of Form

Entry for Sales
Party Dr 100000
To Sales 100000

Amount Received
Bank Dr 100000
To Party 100000

In this case,TCS will be Credited in entry which happens first

Case 1
Suppose A makes Sale of 100000 to B on 10 June
Amount received by A from B on 16 July
Pass Entry

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Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.