25 June 2020
An institution has one & only normal bank account. On 31st MARCH the bank allowed an overdrawn amount to overcome some essentials. So now bank balance is negative position. What will be the treatment in R/P, I/E and BALANCE SHEET. Please clarify.
26 June 2020
IF NEGATIVE BALANCE, THEN CAN'T BE SHOWN UNDER CASH AND CASH EQUIVALENT AND MUST BE SHOWN UNDER SHORT TERM LIABILITY UNDER SECURED OR UNSECURED IT DEPENDS UPON TYPES OF OD LIMIT.
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