Executive Accounts Question:
Tell me what are the Accounting entries for branch accounts?
Answer:
Sales collection done by head office from customer on behalf of Branch office
In the books of Head Office
Dr Bank/Cash Account
Cr Branch Office
In the books of Branch office
Dr Branch Office
Cr Customer
In the books of Head Office
Dr Bank/Cash Account
Cr Branch Office
In the books of Branch office
Dr Branch Office
Cr Customer
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