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discounting of bill of exchange

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student
28 Points Posted on 13 December 2017
what is the presentation of debtors in the balance sheet after discounting of the bill but before its maturity?
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On 13 December 2017 at 16:53 Report
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136 Points Posted on 13 December 2017
when bill is received sundry debtors account is cancelled there is no more debtors account to show
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On 13 December 2017 at 17:04
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student
28 Points Posted on 13 December 2017
no i meant under trade receivables.. is it removed completely once discounted with the bank?
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On 13 December 2017 at 17:08
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136 Points Posted on 13 December 2017
plzz tell me what course u r pursuing I can explain in that way
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On 13 December 2017 at 17:10
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136 Points Posted on 13 December 2017
yeah it is removed
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On 13 December 2017 at 17:18
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136 Points Posted on 13 December 2017
I think so
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On 13 December 2017 at 17:18
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student
28 Points Posted on 13 December 2017
okay thank you
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On 13 December 2017 at 19:27
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411 Points Posted on 13 December 2017
Yes it's removed from Bills Receivable, but in BS (Notes) the same amount will be shown as Contingent liability.
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On 13 December 2017 at 21:54
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student
28 Points Posted on 13 December 2017
thank you
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On 13 December 2017 at 21:56


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