please answer this question

Discussion in 'Exams and Studying' started by Aisha, Jan 7, 2012.

  1. Aisha

    Aisha

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    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 ??
     
    Aisha, Jan 7, 2012
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