Chanaka Unantenne
New member
of the asset? Hi can someone help me with the accounting entries that need to be made in the accrual method during the following points,
1. Customer gives 50% advance payment to get an item imported?
Dr-
Cr-
Where to show in P&L and Balance Sheet?
2. Item is cleared and is brought to the warehouse to keep as stock
Dr-
Cr-
Where to show in P&L and Balance Sheet?
3. Item is sold to the customer who gave the 50% advance.
Dr-
Cr-
Where to show in P&L and Balance Sheet?
Thanks a lot!
1. Customer gives 50% advance payment to get an item imported?
Dr-
Cr-
Where to show in P&L and Balance Sheet?
2. Item is cleared and is brought to the warehouse to keep as stock
Dr-
Cr-
Where to show in P&L and Balance Sheet?
3. Item is sold to the customer who gave the 50% advance.
Dr-
Cr-
Where to show in P&L and Balance Sheet?
Thanks a lot!