Register now or log in to join your professional community.
it will recorded in2014 cause supplier invoice is dated30/12/2014 which will bw credited to said supplier
while on the debit side goods in transit will recorded
invoice date2014
It should be accounted for the year2014, shown as goods in transit. If risk and rewards relating to goods are transferred and payment is maid by the customer, then it is treated as sale in the hand of supplier and purchase in the hands of Buyer.
the invoice should be recorded in2014 because it is dated in2014 , credit the vendor and debit outside stock
Recorded by the method used method of periodic inventory Do or continuous inventory methodIf the continuous inventory recorded in2014, and if the way Jerda league record of2015