Case 2
Whole Payment of $ 1000 made in advance on 10 Feb at the time of booking Order
Goods Imported later
Exchange rate on different dates were as follows
| Date | Descripton |
Exchange
Rate/$ |
| 10-Feb | Booking of Order, Advance paid | 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/$ |
View answer
10-Feb
MAX LTD USA DR 60000
TO BANK 60000
16-Feb
PUR DR 62000
TO MAX LTD USA 62000
16-Feb
MAX LTD USA DR 2000
TO FOREIGN EXCH. FLUCTUATION 2000