If the head office has sent goods worth Rs. 1,00,000 to the branch but the branch has received goods worth only Rs. 65,000 by 31 March of the year, the entry to be passed in the books of the branch would be:
1
Goods-in-Transit A/c Dr Rs. 35,000
To Head Office A/c Rs. 35,000
2
No entry will be passed by branch and only head office will pass an entry
3
Head Office A/c Dr Rs. 35,000
To Goods-in-Transit A/c Rs. 35,000
4
Goods-in-Transit A/c Dr Rs. 65,000
To Head Office A/c Rs. 65,000