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Entry for import of goods

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 August 2012 what entry should i pass for import of raw materialand machinery fro japan??and what will be the entry for payment??
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Guest (Expert)
15 September 2012 For Import of Materials & Machinery:
Purchase/ Machinery A/c Dr
To Creditor A/c

On payment:
Creditor A/c Dr
To Bank a/c

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