scenarios solution requried

 

Receivable from Customer A:

10 ^th December

Receivable = 100000

Receipt = 50000

Transaction:

Receivable                                          100000 DR

Revenue                                              100000 CR

Receipt:

Bank                                                      50000 DR

Receivable                                          50000 CR

20 ^th December

Customer A informs QB(company name) that 50000 that he has paid to QB, of this amount adjust his Receivable with 30000 & adjust Receivable of B & C (that are QB’s Customer) with 15000 & 5000 respectively.

Adjustment Entry:

Accounts Receivable A                   20000 DR

Accounts Receivable B                    15000 CR

Accounts Receivable C                    5000 CR