USA Third party adjustment

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Apr 10, 2021
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Hello ,

I am stucked in one issue for the purpose of accounting.

For example: Mr. A is customer of Mr. C and Mr. B is vendor of Mr. C . In past there had some deal between A ,B and C. So Mr. C received some advance from Mr. A. Unfortunately that deal did not happened. So what Mr. A said to Mr. C ,whatever advance I gave it to you do not return to me and paid all advance to MR. B.

And Mr. C do not know what is the relation between A and B,
Please suggest how to adjust in books and will it effect in IRS also.
 

BIG E

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Dec 19, 2020
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Until you describe the "some deal between A, B and C" - no one here can get you unstucked.
 

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