Lc accounting
This query is : Resolved
CA RATAN JHA
(Querist)
02 September 2011
please help me with accounting treatment of LC in books of buyer.
U S Sharma
(Expert)
02 September 2011
on the date of opening the LC
LC margin a/c dr
Bank charges a/c dr
to Bank a/c
on the date of payment of LC
Seller a/c dr
to L/C margin a/c
to Bank a/c
to Bank charges a/c
LC margin a/c dr
Bank charges a/c dr
to Bank a/c
on the date of payment of LC
Seller a/c dr
to L/C margin a/c
to Bank a/c
to Bank charges a/c
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