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 ??
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 ??