of the asset? Hi can someone help me with the accounting entries that need to be made in the accrual method during the following points,

1. Customer gives 50% advance payment to get an item imported?

Dr-
Cr-

Where to show in P&L and Balance Sheet?


2. Item is cleared and is brought to the warehouse to keep as stock

Dr-
Cr-

Where to show in P&L and Balance Sheet?


3. Item is sold to the customer who gave the 50% advance.

Dr-
Cr-

Where to show in P&L and Balance Sheet?



Thanks a lot!