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hi
What is entry when goods/material reced on 31st March
but,invoice yet not received.
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Answer Posted / reddy
Inventory of rawmaterial A/c Dr
To Gr/Ir A/c
(Here Gr/IR Account means goods receipts and invoice receipts
here we did not received that is the reason we did not
treat the vendor as liability
so we create one suspense A/c (GR/IR Account)
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