Journal entries
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 April 2012
what is the jounal entry of bills endorsement...?
14 April 2012
Assuming that bills are receivable here and settled against a liability.
Creditors A/c Dr
To Bills receviable A/c
If the bills are discounted with bank
Bank A/c Dr
Discount A/c Dr
To Bills Receivable A/c
Creditors A/c Dr
To Bills receviable A/c
If the bills are discounted with bank
Bank A/c Dr
Discount A/c Dr
To Bills Receivable A/c
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14 April 2012
The expert has given proper guidance and I agree with him
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