Jounal entry for bank guarantee.


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Querist : Anonymous

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Querist : Anonymous (Querist)
29 December 2018 A firm has got Bank guarantee issued by bank for purchasing goods.pls guide journal entries?. Also whether creditor account will be credited on receipt of goods?.

29 December 2018 No accounting entry need to be passed for receipt of bank guarantee. Yes creditor account will be credited on receipt of goods.

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Querist : Anonymous

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07 March 2019 Thanx sir.
Regards.

07 March 2019 Welcome..........

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