10 October 2024
Dear Expert, My company name is ABC india Pvt Ltd located at India sold export goods to XYZ located at europe detail is given below here Sales booked on 04/03/2024- DOLLAR 5000 @ 83.30 But remmitance recived from the ABC company in the installment basis FIRST installment recd on 28/03/2024 dollar 2000 @84.50 Bank has credited the amount to me 166000 means @ 83 SECOND installment recdon 25/04/2024 dollar 3000 @ 82.30 Bank has credited the amount to me 254100 means @ 84.70
What is the complete Accounting entry (including provision entry and currency fluaction and any other entry if you suggest me ) of the above given example if financial F.Y. 2023-24 & F.Y. 2024-25.
CAclubindia
