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Accounting Case Studies 07

Accounting Case Studies 07

๐—จ๐—ป๐—น๐—ผ๐—ฐ๐—ธ ๐—ฌ๐—ผ๐˜‚๐—ฟ ๐—”๐—ฐ๐—ฐ๐—ผ๐˜‚๐—ป๐˜๐—ถ๐—ป๐—ด ๐—ฎ๐—ป๐—ฑ ๐—›๐—ฅ ๐—–๐—ฎ๐—ฟ๐—ฒ๐—ฒ๐—ฟ ๐—ฃ๐—ผ๐˜๐—ฒ๐—ป๐˜๐—ถ๐—ฎ๐—น!

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๐Ÿš€ ๐‡๐š๐ง๐๐ฌ-๐Ž๐ง ๐๐ซ๐š๐œ๐ญ๐ข๐œ๐š๐ฅ ๐“๐ซ๐š๐ข๐ง๐ข๐ง๐ 
๐Ÿ”ฅ ๐๐ฎ๐ข๐ฅ๐๐ข๐ง๐  ๐’๐ญ๐ซ๐จ๐ง๐  ๐…๐จ๐ฎ๐ง๐๐š๐ญ๐ข๐จ๐ง๐ฌ
๐Ÿ’ผ ๐‘๐ž๐š๐ฅ-๐ฐ๐จ๐ซ๐ฅ๐ ๐๐ซ๐จ๐ฃ๐ž๐œ๐ญ๐ฌ & ๐‹๐ข๐ฏ๐ž ๐„๐ฑ๐š๐ฆ๐ฉ๐ฅ๐ž๐ฌ
๐ŸŽ“ ๐ˆ๐ง๐ญ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ ๐๐ซ๐ž๐ฉ & ๐๐ซ๐จ๐ฏ๐ž๐ง ๐‰๐จ๐› ๐’๐ž๐š๐ซ๐œ๐ก ๐’๐ญ๐ซ๐š๐ญ๐ž๐ ๐ข๐ž๐ฌ

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Five days back we gave a purchase order to ABM Ltd with 1 million in advance payment.
Today ABM issues an invoice for 10 million to us and we plan to set off the amount today by issuing 2 equal PDCs where one is due the coming month and the other is due the following month after.
Pass the journal entries for these transactions.

๐€๐œ๐œ๐จ๐ฎ๐ง๐ญ๐ข๐ง๐  ๐‚๐š๐ฌ๐ž ๐’๐ญ๐ฎ๐๐ข๐ž๐ฌ – ๐ŸŽ๐Ÿ•

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๐„๐ฆ๐›๐š๐ซ๐ค ๐จ๐ง ๐ฒ๐จ๐ฎ๐ซ ๐ฃ๐จ๐ฎ๐ซ๐ง๐ž๐ฒ ๐ญ๐จ๐ฐ๐š๐ซ๐๐ฌ ๐š ๐ฌ๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ๐Ÿ๐ฎ๐ฅ ๐œ๐š๐ซ๐ž๐ž๐ซ ๐ข๐ง ๐€๐œ๐œ๐จ๐ฎ๐ง๐ญ๐ข๐ง๐  ๐š๐ง๐ ๐‡๐‘ ๐ญ๐จ๐๐š๐ฒ! ๐Ÿ’ผ๐ŸŒ๐Ÿ“ˆ

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