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If invoice amount is USD 1000 @Rs.62 and directly posted at Rs.62000 on 01-01-2014 and paid amount is USD1000 @Rs.64
and posted amount is Rs.64000 on 10-01-2014. Where will go the Rs.2000 amount. And what are all entries.

Answer Posted / himanshu

1.4.14.purchase A/c Dr. 62000
To Vendor A/c. 62000

10.01.15. Vendor A/C Dr. 64000
To bank A/c. 64000

10.01.15 Forex Gain/Loss Dr. 2000
To Vendor A/C 2000

Is This Answer Correct ?    3 Yes 1 No



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