placed an order with Rakesh Mohan for the supply of goods of the list price of ₹ 100000.In this connection raman paid 10% of the least price as an advanced by cheque
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The journal will be:
Rakesh Mohan A/c Dr 1,00,000
To bank A/c 10,000
In this, the remaining in your account will be 90,000 rupees in total.
The cheque entry will be as per the payee and to pay with the mentioned amount.
This can depend that the account is on Rakesh name or not.
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