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journal entries for foreign bill purchase

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(Querist)
08 April 2011 iam working in an export firm . i want to know journal entries for foreign bill purchase ,entries for packing credit loan , related entries for current a/c etc
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
08 April 2011 1. CURRENT A/C ..........DR
TO, PACKING CREDIT


2. PARTY ..........DR
TO, EXPORT SALES

3. FOREIGN BP/BD ..........DR
TO, PARTY

4. PACKING CREDIT ..........DR
TO, FBP/FBD

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