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Debtors in Foreign Exchange...Urgent Sir

This query is : Resolved 
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(Querist)
17 August 2010 Dear Experts,
While there is sundry debtors receivable in foreign exchange due to export sale in the balance sheet. Should i have to restate the balance receivable from sundry debtors as the close rate of the balance sheet date.
The profit or loss has to be transferred to Exchange Difference a/c. Then the Exchange difference a/c will be transferred to P&L A/c.
Am i right?
Experts opinion will be highly appreciated.
With regards,
Rajesh.
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Maninder Jain

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Maninder Jain (Expert)
17 August 2010 Yes you are right.

Morever this entry needs to be reversed nexr year.
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