In books of Shubham Trading Co
Entry for Bill Issue
Shri Cement A/c Dr 50000
To Commission Charges Income 25000
To Weightmant Charges 25000
(It is a Journal Entry in tally
Commission and Weightmant are Direct Incomes
Shri Cement is a Debtor)
Entry for Amount Received
Bank A/c Dr 49300
Penatly Exp Dr 200
TDS Receivable De 500
To Shri Cement 50000
(It is a Receipt Entry in tally
TDS Receivable is a Current Assets
Penalty is an Indirect Exp
Shri Cement is a Debtor)
Learn more about TDS Receivable here
http://teachoo.com/4198/373/Entries-During-The-Year/category/TDS-Receivable-Entries/
Written on Feb. 16, 2017, 5:12 p.m.