problem?

CA Lalit Kandoi (Chartered accountant) (1053 Points)

24 May 2011  

This is an intereview question. Plz some one answer for this.
If 100 GRN notes are received by a company i,e goods have been received by the company, but bills have not been received for those. Soo do we enter this transaction in P&L a/c when we are preparing P&L a/c...?

What will be the effect of this entry?
What journal entries should be passed for this type of transaction when it takes place in a company....?