Posting of Expense Reduction


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hi, their was a Staff quarter maintenance expense of 55,700 in January and by February 5000 of the amount was returned. please i want to know it it will have any effect in the statement profit and loss.
 
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bklynboy

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Depends why it was returned. If it was overpayment, record 5000 against same expense account you recorded 55,700.
 

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