how to recognise revenue
This query is : Resolved
21 July 2010
builder receive the part payment from prospective buyer before he give possession of the house to buyer & also before making of sale deed so how to record the payment received in advance
whether it should be recorded as a advance or it should be recorded as a sale of flat
whether it should be recorded as a advance or it should be recorded as a sale of flat
CA Sanat Pyne
(Expert)
24 July 2010
IN MY OPINION IT SHOULD BE SHOWN AS ADVANCE .
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