Explain the entry of following question
1. Maxwell company came into contract with info tech company for technical services of R's 2,50,000 on 20 jan. It was decided to take advance of rs 40,000 in advance from info tech company and payment was made on 22 jan. After the completion of work Maxwell company sent a technical bill to info tech company of rs 2,00,000 on 25 jan and bill payment was made on 29 jan.