Saurabh

A/c entries 174 views 3 replies

2 Points Joined September 2018

Dear all,

My question is

I transferred - 3 lac on 27-3-18 to a pvt firm for purchase of goods

The firm gave me credit of 2 lac for 7 days and dispatched

goods worth Rs 5 lac billed and dispatched on 28-3-18

I paid the remaining 2 lac on 3-4-18

What will be my entry in balance sheet as on 31-3-18

Thanks and Regards

Replies (3)

Guest

Rs.2 Lac payable to party which is comes in balance sheet sundry creditor.

Guest

If any stock available as on date than its also reflected in closing stock

Expert

359 Points Joined April 2015

Agreed with Ratanu Sir...

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