Sale of an asset and receipt of payment in installments.

capital gain will be taxable when asset is sold. So show full sale value as consideration.

cash a/c Dr

Debtor for sale of asset Dr 

To Asset 

when payment is received in installment,

Cash a/c Dr

To Debtor for sale of asset 

In balance sheet,

block of asset

opening balance

add purchase of asset

Less sale value of asset

Capital gain/capital loss

I advise you to refer capital gain chapter of pcc/final

It is recognised in the year of sale. No matter payment is received in installment. 

Ya it will be different. Accounting and tax treatment will be different. and profit from both point of view will be also different. But tax will be applicable under income tax act.