Bill discounting entries
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 January 2014
Dear Sir
Is is correct to show bill discounting facility a company enjoys with bank as contingent liability. Or whether it is a confirmed liability.?
Is is correct to show bill discounting facility a company enjoys with bank as contingent liability. Or whether it is a confirmed liability.?
CMA Ramesh Krishnan
(Expert)
09 January 2014
It is not contingent liability.
Incase under that facility you have already discounted the bills, then it is confirmed liability
under that facility not discounted anything , then no liability
Incase under that facility you have already discounted the bills, then it is confirmed liability
under that facility not discounted anything , then no liability
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