Case 3
30% Payment of $ 300 made in advance on 10 Feb at the time of booking Order
Goods Imported later of $ 1000 and then Balance $700 payment made
Exchange rate on different dates were as follows
| Date | Description |
Exchange
Rate/$ |
| 10-Feb | Booking of Order, Advance Payment Made | 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 Balance Payment | 65/$ |
View answer
10-Feb
MAX LTD USA DR 18000
TO BANK 18000
16-Feb
PUR DR 62000
TO MAX LTD USA 62000
20-Feb
MAX LTD USA DR 45500
TO BANK 45500
20-Feb
FOREIGN EXCH. FLUCTUATION DR 1500
TO MAX LTD USA 1500