It's a balance sheet(liability) account. Accounting entries would be
MIGO
Dr Stock
Cr GR/IR Clearing
Cr Frieght Clearing
MIRO
Dr GR/IR Clearing
Dr Frieght Clearing
Cr Vendor
Rgds
MBN
It's a balance sheet(liability) account. Accounting entries would be
MIGO
Dr Stock
Cr GR/IR Clearing
Cr Frieght Clearing
MIRO
Dr GR/IR Clearing
Dr Frieght Clearing
Cr Vendor
Rgds
MBN