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Receivables - EBS (MOSC)

Accounting Entries in AR

Oct 13, 2011 1:36PM edited Oct 14, 2011 11:57PM in Receivables - EBS (MOSC) 5 commentsAnswered

Business Case : ABC Company gives Machine to Dealers on Hire Purchase Model worth price Rs 150000,

Dealer pays advance of 50000, and pays monthly installment of Rs3000 per month.

The advance Dealer pays to ABC company can only be recognized from date the machine is installed, and will be amortized annually.

The dealer pays installment to bank, and bank sends data of payment to ABC.

How to solution this for ABC company, using Oracle R12, details on accounting entries.

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