purchase import

A/c entries 628 views 1 replies

Hem Chandra Upadhay

Student

67 Points Joined July 2009

Consider the following situation ABC Ltd purchases goods from china. Goods are delivered to ABC Ltd on 11/6/2009 with invoice date as 25/5/2009. Payment for the amount is made on 5/9/2009 by ABC Ltd. When should the entry for purchase & which amount entered because amount on USD & currency rate changed every time.