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
CAclubindia
