Dear all,
What would be the double entry to record ADVANCE PAYEMNTS recieved from customers ??
Looking forward from you soon.
Rgds,
TRK*
ACCA Forums
FADouble entry
well the customer will be counted as a creditor i guess- So cr deposit a/c ( customer's name) dr cash or something....
Then reverse the entry on due date
What about this one ?
Dr. Bank or Cash
Cr. Customer advances
Dr Cash
Cr Customer
Thanks Alex :)
Thanks to u too icedawn :)
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