Case 1

Goods imported $ 1000 from Max Ltd,USA.
Exchange rate on different dates were as follows

Date Descripton Exchange
Rate/$
10-Feb Booking of Order 60/$
14-Feb Date of Goods Entering India 61/$
15-Feb Rate as per Bill of Entry 62/$
16-Feb Date of Goods Entering
Factory
63/$
20-Feb Date of Payment 65/$

Pass Entry for Purchase of Goods and Payment

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  1. Accounts and Finance
  2. Step 2 Passing Routine Entries
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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .