21 July 2014
agreeement to sale a propwrty is entered on 27 march and token money of 4 lakhs is paid against full consideration of 25 lakhs which will be settled on 26 may
nw question is how the property should b adjsted? wether it should be adjusted against 4 lakhs or rs 4 lakh should be shown as an advance to purchase the property on balance sheet date
thanx in advance
CAclubindia
