Dear All,
My firm opened a cash credit account with Axis Bank Ltd. Against the Loan the bank asked us to deposit the Post dated cheque equivalent to the sanctioned loan amount with them. We deposit a Post Dated Cheque from Punjab National Bank to them.
Now i am confused, what necessary entries to be passed so that the same may reflect in my books.
Kindly Guide me on Urgent Basis.
Thanking You,
With Regards,
Nitil Agarwala
CAclubindia
