the transaction is "received claim for Rs. 10,000 from a customer for late supply of goods, claim admitted for Rs. 6000".
my journal entry is Claim admitted A/c Dr. Rs. 6000
To Customer A/c
cause, i have an obligation to pay the amount of claim admitted so, it is an expenditure, therefore debited and i am obliged to the customer so her personal A/c is credited
am i right?
my journal entry is Claim admitted A/c Dr. Rs. 6000
To Customer A/c
cause, i have an obligation to pay the amount of claim admitted so, it is an expenditure, therefore debited and i am obliged to the customer so her personal A/c is credited
am i right?