Accounitng entries-p2p-o2c Receipt Dr Cr Receiving A/c 100 At PO Price Inventory AP Accrual A/c 100 At PO Price Delivery Raw Material

Sub Inventory A/c 80 At Standard Cost PPV A/c 20 Diff between PO ? Stnd cost Receiving A/c 100 At PO Price Invoice matching with PO AP Accrual Liability A/c 100 At PO Price Invoice Price Variance A/c 10 Diff between Invoice - PO AP Liability A/c 110 AT INV Price On making Payment Liability A/c 110 At Invoice Price Cash 110 At Invoice Price