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Post Info TOPIC: purchase ledger /sales ledger


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purchase ledger /sales ledger
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Hi there,

AB Motors invoiced Company A for 10000.00 - purchase of new car

Company A Sold an old Car to AB Motors for 1000.00

Manager at Company A Paid 1000 in advance towards the purchase of new car - on site payment - Company A hasnt reimbursed 1000 to the manager

Company A Paid 8200.00 the next day to AB Motors by BACS. 

 

Overall the AB motors owes Company A 200.00

 

In the end AB Motors issues a cheque of 1200 to the manager who puts through his bank. How to balance the whole thing?

 

So in the books of Company A -:

 

Put through invoice for 10000.00 - Purchase ledger / then Payment on account for 8200.00/ then another payment on account for 1000 paid for by manager

Put through invoice for 1000.00 - Sales ledger 

 

 

Please help!!

John

 



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