• Answer of this question

    Advance to hire charges
    Davneet Singh's image
    Davneet Singh

    Suppose hire charges payable to A Ltd Rs 10000

    20% paid in advance

    Entry for Advance

    A Ltd Dr  2000

             To BanK 2000

    (A is under Loans and Advances Asset)

     

    When Bill Recd of Hire Chages

    Hire Charges/Rent Exp DR

             To A

     

    Balance Payment Recd

    A Ltd Dr  8000

             To BanK 8000

     


    Written on Feb. 13, 2017, 9:56 p.m.