Dear Sudaporn,
40 MT of Substandard Feed from GCSSB @ $976/mt = $39,040. GCSSB will issue credit note to us $156/mt (16%) total $6,240. You have to take $820/mt as cost in your stock. Also, GCSSB will bear the cost of import duty.
Kasanee,
Please liaise with James for the credit note, for Mar’13 closing you may record under Account Recoverable, do not touch I/C balance.