Explain how to place journal entry for purchase order in books of account?
Submitted by: AdministratorGenerally there is no journal entry at the time when one receives a purchase order as this receipt of purchase order cannot be recognized as revenue at this point of time.
But under following circumstance there would be an entry:
when any advance is received:-
Cash/ Bank Dr
Party account
Submitted by: Administrator
But under following circumstance there would be an entry:
when any advance is received:-
Cash/ Bank Dr
Party account
Submitted by: Administrator
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