SARAL Ltd. supplied goods to SHIVA Ltd. The terms of the contract stipulated that goods are delivered
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SARAL Ltd. supplied goods to SHIVA Ltd. The terms of the contract stipulated that goods are delivered to the factory of SHIVA Ltd. Goods were removed from the factory of SARAL Ltd. on September 9, 2021, and were delivered to the factory of S Ltd. on September 15, 2021. Now, the invoice was issued on September 18, 2021, and payment was credited to SARAL Ltd.’s account on October 20, 2021. However, the entry was made in the books when the cheque was received, that is on September 19, 2021.
Determine the Time of Supply.
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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