Foreign receipt

This query is : Resolved

Patel Ishan Mahendrakumar (Querist)
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13 September 2016 QUESTION: I have sold goods in foreign. Please guide me.
EXPORT SALE (IN USD) 34,150.00
SHIPPING BILL RATE Rs. 66.40
REALISED (USD) 34,093.00
REALISATION RATE Rs. 67.14
FOREIGN BANK CHARGES (USD) 57.00
INCOME FROM FOREIGN EXCH. FL Rs.0.74

FOR ABOVE SALE WHICH OPTION IS RIGHT FROM BELOW TWO OPTIONS AT THE TIME OF RECEIPT?

OPTION (I)
PARTY (34150*66.40) CR 22,67,560.00
BANK (34093*67.14) DR 22,89,004.02
BANK CHARGES (57*66.40) DR 3,784.80
INCOME FROM FEF (34093*0.74) CR 25,228.82
TOTAL 22,92,788.82 22,92,788.82

OPTION (II)
PARTY (34150*66.40) CR 22,67,560.00
BANK (34093*67.14) DR 22,89,004.02
BANK CHARGES (57*67.14) DR 3,826.98
INCOME FROM FEF (34150*0.74) CR 25,271.00
TOTAL 22,92,831.00 22,92,831.00