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discounting of bill of exchange
what is the presentation of debtors in the balance sheet after discounting of the bill but before its maturity?
Replies (8)
when bill is received sundry debtors account is cancelled there is no more debtors account to show
no i meant under trade receivables.. is it removed completely once discounted with the bank?
plzz tell me what course u r pursuing I can explain in that way
yeah it is removed
I think so
okay thank you
Yes it's removed from Bills Receivable, but in BS (Notes) the same amount will be shown as Contingent liability.
thank you
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