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Letter of Credit

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(Querist)
05 July 2008 Please let me know:



When Letter of credit is opened in favour of Seller by the company



1) what accounting entry needs to be passed?



2)What disclosures are to be made in notes to accounts?


Please answer questionwise.Thanks.
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Taranjit Singh

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Taranjit Singh (Expert)
03 October 2009 Hello, is this an old query still pending?????? plz send me a PM if yes.....
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Taranjit Singh

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Taranjit Singh (Expert)
03 October 2009 Hello, is this an old query still pending?????? plz send me a PM if yes.....
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