mukunthaniyer Profile Answers by mukunthaniyer Feb 28th, 2008 Travelling Advance given----- Rs. 10,000Spent--- 8,000Returned--- 2,000Jrnl 1 At the time of Despatch of Advance: Conveyance Advance a/c Dr 10,000 To Bank/Cash/etc... 10,000(conveyance advance balance retained beyond periodical closure has to be shown in the B/S Assets side as Prepaid Expense).Jrnl 2 At the time of Entering actual expenses/refund: Conveyance a/c Dr 8,000 (transfer to the expense acct) Bank/Cash a/c Dr 2,000 (entry for refund) To Conveyance Advance a/c 10,000 (balancing the previous debit)Hope this is clear... Get bac to me if there's something wrong with it!!!Bye...
Travelling Advance Journal Enteries
Travelling Advance given----- Rs. 10,000
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