dear friends happy new year.
The company sells goods on "freight to pay" basis. When they raised the invoice they deduct the freight amount paid by the purchaser.
Ex:- The invoice appear as follows.
10kg*Rs.1000/= 10,000
_________
total 10,000
Less: freight 1000
_________
9000
_________
Now my doubt is, is it enough to recognise 9000 as sale or,
recongnising sale for 10000 and freight 1000. suggest me.
what is sale value?
Satish Makam (Asst. Manager - Accounts) (294 Points)
04 January 2010