Finance House ( FH ) sold an equipment, costing Rs . 6 0 , 0 0 0
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Question:
Finance House FH sold an equipment, costing Rs to a customer on installment sale basis on January
Each installment of Rs will be received on every December st for years. Control was transferred on delivery.
Applicable market interest rate is FH prepares its financial statements on st December every year.
Required:
All journal entries for above transaction.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: