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 

The goods reachd my godown on 2-4-18 and i made a stock entry on that date

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

Read more at: https://www.caclubindia.com/forum/saurabh-485534.asp