As 9
This query is : Resolved
Moumita Sinha
(Querist)
26 July 2013
When Revenue is recognized :
In case payments are to be made in installments and there is uncertainty in ultimate collection.
In case payments are to be made in installments and there is uncertainty in ultimate collection.
26 July 2013
in that case only when payment is received revenue should be recognised.
Moumita Sinha
(Querist)
26 July 2013
What would be the treatment at the time of sale?
26 July 2013
if sale is made but payment to be received in installment then follow above suggestions.
no entry while sale is made or you can make sales entry by making a suitable provision of amount of sales not able to be collected with certainity.
means make revenue and also provision for bad debts also.
no entry while sale is made or you can make sales entry by making a suitable provision of amount of sales not able to be collected with certainity.
means make revenue and also provision for bad debts also.
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