at the time of goods receipt the rate of the material is
1000 and at the time of invoice verificaiton the material
price is 1200 what journal entries are generated at both
scenario's
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Answer Posted / mbb
At the time of goods receipt in MIGO
goods A/c Dr 1000
To GR/IR Cr 1000
At the time of invoice receipt in MIRO
GR/IG A/c Dr 1000
Price Differnce A/c Dr 200
To Vendor A/c Cr 1200
above is right its also same
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