A company has formed and the company has entered into contract with a contracting company to build warehouse,office,machine foundation. the owner of the company is paying the contractor from his other companies accounts and also from his personal account as per the contracting terms
1) should company creater ledger in the name of the contracting company building the warehouse or the building A/C
2) what is the journal entry for the payment to the contractor to build the warehouse
1) should company creater ledger in the name of the contracting company building the warehouse or the building A/C
2) what is the journal entry for the payment to the contractor to build the warehouse