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please answer this question

Aisha

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Join Date: Jan 2012

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01-07-2012, 08:52 PM

Hi,
i am Aisha from UAE , Dubai , accounting student.
could you help me please.

when I buy water from the Oasis Company, I must pay a deposit of AED 35 for the water bottle. When I return the water bottle, I will receive AED 35 back. The AED 35 would be recorded as a liability for the Oasis Company

this is what we call it Returnable Containers/Deposits

what is the journal entry for this question ??

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