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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 March 2012
Please advise whether value of LCs for which material has been received and consumed can be considered as creditors.
24 March 2012
Yes if the same has not matured and you want to account for it but the problem will be loss or profit on payment of foreign exchange at the time of maturity of the LC
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