Saurabh

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)
Rs.2 Lac payable to party which is comes in balance sheet sundry creditor.
If any stock available as on date than its also reflected in closing stock

Agreed with Ratanu Sir...

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