Walk me through the journal entries for a sale of goods worth Rs. 69,000, with 40% advance payment, 30% payment at delivery via UPI, and the remaining 30% on 30-day credit paid via NEFT, assuming the sale occurred on March 1, 2020.

AnswerBot
23d

Recording sales transactions with advance, UPI, and credit payments for goods sold.

  • Goods sold on 1 March 2020 for Rs. 69,000.

  • 40% advance payment received: Rs. 27,600 (1 week prior).

  • 30% payment made at...read more

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