What form of entry fee do people pay at Santhas?
What is the entry passed when life membership fee is received?
The Fine Repairing Company provides repairing services amounting to Rs 25,000 to Monster Company on March 25, 2018. The Monster Company promises to pay the service fee on June 15, 2018. No service revenue has been recorded by the Fine Repairing Company until the end of its accounting period i.e March 31, 2018. What shall be the adjusting entry as at 31st March 2018?