Accounts
This query is : Resolved
Guest
Guest
(Querist)
21 March 2009
I HAVE RECEIVED RS 100 /- AS PER BILL FROM A .
SAME I DISCOUTED WITH BANK BANK AGREED TO PAY 90/- RS 6/- KEEPS TOWARDS MARGIN AN RS.4/- TOWARDS INTEREST
BANK PAID AS PER AGREED TERMS THEN WHAT WILL BE THE ENTRIES FOR THIS
SAME I DISCOUTED WITH BANK BANK AGREED TO PAY 90/- RS 6/- KEEPS TOWARDS MARGIN AN RS.4/- TOWARDS INTEREST
BANK PAID AS PER AGREED TERMS THEN WHAT WILL BE THE ENTRIES FOR THIS
23 March 2009
The entry should be like this
Bank Account Dr. 90.00
Bank FD
(or suitable margin a/c) Dr. 6.00
Interest A/c Dr. 4.00
To Bils Discounted A/c 100.00
Margin will be transferred to Bank a/c on payment of the bill on maturity.
Bank Account Dr. 90.00
Bank FD
(or suitable margin a/c) Dr. 6.00
Interest A/c Dr. 4.00
To Bils Discounted A/c 100.00
Margin will be transferred to Bank a/c on payment of the bill on maturity.
23 March 2009
Any other member can suggest a better option please.
28 June 2023
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