Received an order from Shyam for supply of goods of the list price of rs 1,00,000 with an advance - Accountancy - Recording of Transactions - I

Question

Received an order from Shyam for supply of goods of the list
price of rs 1,00,000 with an advance advance of 10% of list price
pass the journal entry

Amit Chatterjee · Accepted Answer

Date

Particulars

L F

Debit

Amount

Credit

Amount

Cash A/c

Dr

10,000

To Shyam

10,000

(Advance amount received from Shyam @ 10% of the total order amount
of Rs 1,00,000)

Date	Particulars			L.F.	Debit Amount	Credit Amount
	Cash A/c		Dr.		10,000
		To Shyam				10,000
	(Advance amount received from Shyam @ 10% of the total order amount of Rs 1,00,000)

Received an order from Shyam for supply of goods of the list price of rs. 1,00,000 with an advance advance of 10% of list price. pass the journal entry