17 August 2010
Dear Experts, While there is sundry debtors receivable in foreign exchange due to export sale in the balance sheet. Should i have to restate the balance receivable from sundry debtors as the close rate of the balance sheet date. The profit or loss has to be transferred to Exchange Difference a/c. Then the Exchange difference a/c will be transferred to P&L A/c. Am i right? Experts opinion will be highly appreciated. With regards, Rajesh.
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